Core Viewpoint - Zoomcar Holdings, Inc. has successfully closed a private placement with institutional investors, raising a total of $9.15 million, which will be used to repay debt and for general corporate purposes [1][2]. Group 1: Private Placement Details - The private placement resulted in the issuance of 2,137,850 units at an effective price of $4.28 per unit, each unit consisting of one share of common stock (or one pre-funded warrant), two Series A warrants, and one Series B warrant [2]. - The Series A warrants are exercisable for up to 4,275,700 shares of common stock at an initial exercise price of $4.03 per share, with a term of 5 years [2]. - The Series B warrants have an exercise price of $0.0001 and are subject to adjustments based on future dilutive issuances and reverse stock splits [2]. Group 2: Use of Proceeds - The net proceeds from the private placement will be utilized to repay approximately $3.8 million of outstanding indebtedness and the remainder will be allocated for general corporate purposes and working capital [1]. Group 3: Regulatory and Compliance Information - Aegis Capital Corp. acted as the Exclusive Placement Agent for the private placement, which was conducted under exemptions from the registration requirements of the Securities Act of 1933 [3]. - The company has agreed to file registration statements with the SEC covering the resale of the common stock sold in the private placement and the common stock issuable upon exercise of the warrants [3]. Group 4: Company Overview - Zoomcar, founded in 2013 and headquartered in Bengaluru, India, is a leading marketplace for self-drive car sharing, connecting Hosts with Guests for affordable car rental options [5].
Zoomcar Announces Closing of $9.15 million Private Placement