Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 422

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1A
Chunk 422
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 with certain institutional accredited investors pursuant to which the Company issued and
sold an aggregate of $3,600,000 in principal amount of notes and warrants to purchase up to an aggregate of 1,267,728 shares (52,966,102
shares prior to Reverse Stock Split) of Company Common Stock for gross proceeds of $3,000,000. The closing occurred on June 20, 2024.

Private Placement of Equity

On November 5, 2024, the
Company had entered into a private placement transaction for gross proceeds of $9.15 million (before deduction of fees to the placement
agent and other offering expenses payable by the Company). Aegis Capital Corp. is acting as the Exclusive Placement Agent for the private
placement. The Company intends to use the net proceeds from the private placement to repay approximately $3.80 million of outstanding
indebtedness (including accrued interest).

On December 23, 2024, the
Company entered into a securities purchase agreement in connection with a private placement offering pursuant to which the Company raised
gross proceeds of $5.48 million and after the deduction of fees and expenses payable to the Placement Agent and other offering expenses,
including legal fees payable to the Company’s and Placement Agent’s counsel, the net proceeds to the Company was approximately
$4.79 million. 

76

On January 31, 2025, the Company entered into
a securities purchase agreement, in connection with the second closing of the Offering (the “Second Closing”) pursuant to
a Confidential Private Placement Memorandum, dated December 3, 2024. The Securities were offered at a for an aggregate amount of $3 million;
provided, however, that the Company did not receive any cash proceeds with respect to Securities with a subscription price of $1.56 million
of such amount, as those Securities were issued in consideration for the settlement of litigation with a claimant. The Company received
balance net proceeds of approximately $1.25 million after the deduction of fees and expenses payable to the Placement Agent and other
offering expenses, including legal fees payable to the Company’s and Placement Agent’s counsel. 

The following table summarizes
our cash flows for the periods presented:

    Statements of Cash Flows Data: 
    For the Years Ended
 March 31, 

    2025  
    2024 
  
    Net cash used in provided by operating activities 
     (9,076,067)