InvestmentJun 5, 2026, 05:31 PM
Zoomcar Holdings Raises $1.14M in Private Placement
AI Summary
Zoomcar Holdings, Inc. announced the initial closing of its private placement of Series A units, raising approximately $1.143 million in gross proceeds. The offering, conducted under Section 4(a)(2) and Rule 506(c), aims to raise up to $5 million, with an option for an additional $5 million. The units consist of convertible preferred stock and warrants, with specific conversion and exercise prices detailed. ThinkEquity LLC served as the placement agent.
Key Highlights
- Zoomcar Holdings, Inc. secured approximately $1.143 million in gross proceeds from the initial closing of its private placement.
- The private placement involves the sale of Series A units, each comprising convertible preferred stock and a warrant.
- The offering aims to raise up to $5 million, with an option for an additional $5 million.
- Preferred shares are convertible at an initial price of $0.05, and warrants have an exercise price of $0.0625.
- ThinkEquity LLC acted as the exclusive placement agent, receiving a 10% cash fee and warrants.
Price Impact
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