Zoomcar Announces Closing of Private Placement of Common Stock Warrants

Core Insights - Zoomcar Holdings, Inc. has successfully closed a private placement of common stock purchase warrants to accredited investors, raising a total of $939 by issuing 939 warrants at $1.00 each, with each warrant exercisable for one share at a nominal price of $6,000 per share [1] Group 1: Private Placement Details - The private placement was initiated on February 19, 2026, and conducted under Section 4(a)(2) of the Securities Act of 1933 and Rule 506(c) of Regulation D [1] - The warrants include customary anti-dilution adjustments for stock splits and dividends, and impose beneficial ownership limitations, restricting holders from exercising warrants if it would result in owning more than 4.99% of the company's outstanding common stock, with an option to increase this limit to 9.99% [2] Group 2: Company Overview - Zoomcar, founded in 2013 and headquartered in Bengaluru, India, is a leading self-drive car-sharing marketplace that connects vehicle hosts with guests, offering a wide selection of vehicles at competitive prices [10]