Company: ZCARW
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001213900-25-039778
Chunk: 13

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-05
Form: S-1
Chunk 13
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 and, in many cases, inflexible and inconvenient for short-term needs. Our business model and platform offerings continue to evolve with changing consumer expectations and the observable shift in emerging market populations toward personalized, digitized goods and services offered on-demand. We believe that our positioning in most major cities in the three countries in which we currently operate, together with our scalable technology and platform features, make Zoomcar well-positioned to continue attracting customers from addressable markets with few parallels in terms of scale and size. More fully described in the “ Business” section. Recent Developments Nasdaq Matters Since May 2024, we have been noncompliant with one or more of the continuing listing standards for the Nasdaq Global Market and have faced potential delisting of our securities from trading on the Nasdaq Global Market. This noncompliance has included, at one time or another, during this period, compliance with (i) Nasdaq Listing Rule 5450(b)(2)(A) as it relates to the requirement to maintain a minimum market value of listed securities of $50,000,000 (“MVLS”), (ii) Nasdaq Listing Rule 5450(a)(1) as it relates to the requirement to maintain a minimum bid price of $1.00 per share (the “Minimum Bid Rule”), (iii) Nasdaq Listing Rule 5450(b)(2)(C) to maintain a minimum market value of publicly held shares of $15,000,000 (the “MVPHS Rule”) and (iv) Nasdaq Listing Rule 5450(b)(1)(B) which requires us to have a minimum of 1,100,000 shares publicly held shares (the “MPLS Requirement”). In January 2025, we determined that we would be unable to fully comply with the continuing listing standards of the Nasdaq Global Market and, therefore, when we presented our plan on January 9, 2025, to the Nasdaq Hearings Panel, to regain compliance with Nasdaq’s continuing listing standards, we included an application to transfer trading of our Common Stock and Public Warrants to the Nasdaq Capital Market, where we felt there was a better chance for us to comply with the continuing listing standards. For us to comply with the continuing listing standards for the Nasdaq Capital Market, the MVLS of our Common Stock must be at least $35,000,000 or we must have stockholders’ equity of at least $2,500,000 (“MSE”). If we are not able to comply with