Company: ZCARW
Filing Date: 2025-01-21
Form Type: DEF 14A
Source: 0001213900-25-005022
Chunk: 23

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-01-21
Form: DEF 14A
Chunk 23
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AL.

Because one of our directors
is a holder of Institutional Investors Bridge Warrants, he is deemed to have a financial and personal interest in the outcome of the vote
on this proposal, which may result in a conflict of interest on his part between what he may believe is in the best interests of the Company
and its stockholders and what he may believe is best for himself in determining to recommend that stockholders vote for the proposals.

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PROPOSAL 2

THE REG D INVESTORS BRIDGE WARRANTS PROPOSAL</div>

Introduction

The Company is currently conducting the Reg D Offering, pursuant to an Amended and Restated Private Placement Memorandum, dated December
3, 2024, and subscription documents included therein (the “Reg D Offering Transaction Documents”). The Company may
hold any number of closings of the Reg D Offering, until the earlier of (i) such date that the Company has closed on subscriptions for
the maximum offering amount of $30 million or (ii) March 31, 2025. The Company will not hold any closings of the Reg D Offering, unless and until it has received non-revocable subscriptions for at least the minimum offering amount of $4 million (the “ Minimum Offering Amount”). If subscriptions for such Minimum Offering Amount have not been received by March 31, 2025, the Reg D Offering will be terminated. The Company has entered into a securities purchase agreement (the “ Reg D Offering Securities Purchase Agreement”) with certain accredited investors (as further described hereafter) and may enter into additional Reg D Offering Securities Purchase Agreements with additional accredited investors until March 31, 2025, unless the Reg D Offering is earlier terminated (collectively, the “ Reg D Investors”), pursuant to which the Company has sold and may, in the future sell, to the Reg D Investors up to $30 million of securities, at a purchase price equal to the greater of (i) the Nasdaq Minimum Price, at the time of execution of the applicable Reg D Offering Securities Purchase Agreement, and (ii) the highest purchase price in prior closings of the Reg D Offering. The securities issued at each closing of the Reg D Offering will consist of one share of Common Stock or a Pre-Funded Warrant to purchase one share of Common Stock (each a “ Reg D Investors Pre-Funded Warrant” and collectively, the “ Reg D Investors Pre-Funded Warrants”), Reg D Investors Series A Warrants to