Corporate ActionOct 29, 2026, 05:31 PM
Zoomcar Holdings Completes Private Placement Closing
AI Summary
Zoomcar Holdings, Inc. announced the seventh closing of its private placement of Series A units, raising approximately $75,000 in gross proceeds. Each unit comprises a Series A Convertible Preferred Share and a warrant to purchase 20,000 shares of common stock. The preferred shares are convertible into common stock at $0.0116 per share, and the warrants have a similar exercise price. The company also entered into a registration rights agreement with the purchasers and engaged ThinkEquity LLC as the exclusive placement agent, compensating them with a cash fee and warrants.
Key Highlights
- Zoomcar Holdings, Inc. completed the seventh closing of its private placement, issuing 75 Series A units for approximately $75,000 in gross proceeds.
- Each unit consists of one Series A Convertible Preferred Share and one Series A warrant to purchase 20,000 shares of common stock.
- The Preferred Shares are convertible into common stock at a price of $0.0116 per share, and Warrants have an exercise price of $0.0116 per share.
- The company entered into a registration rights agreement, committing to file a resale registration statement for shares issuable upon conversion and exercise.
- ThinkEquity LLC acted as the exclusive placement agent, receiving a 10.0% cash fee, expense reimbursement, and warrants to purchase 10% of the underlying shares.
Price Impact
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