InvestmentJul 6, 2026, 04:58 PM
Zoomcar Holdings Raises $195K in Third Private Placement Closing
AI Summary
Zoomcar Holdings, Inc. announced the third closing of its private placement, raising approximately $195,000 in gross proceeds. The company issued 195 Series A Units, each comprising one Series A Convertible Preferred Stock and one Series A Warrant. The overall offering targets up to $5 million, with an additional $5 million overallotment option, and is set to conclude by July 30, 2026. Additionally, the company extended a consultancy agreement with Mr. Deepankar Tiwari for another year.
Key Highlights
- Zoomcar Holdings raised approximately $195,000 in gross proceeds from the third closing of its private placement.
- 195 Series A Units were issued, each consisting of one Series A Convertible Preferred Stock and one Series A Warrant.
- Warrants allow purchase of up to 3,900,000 shares of Common Stock at $0.0625 per share.
- The total offering aims to raise up to $5,000,000, with an additional $5,000,000 overallotment option.
- ThinkEquity LLC acted as placement agent, receiving a 10.0% cash fee and warrants for 390,000 shares.
- The private placement is scheduled to terminate on July 30, 2026, unless extended.
- Consultancy Agreement with Deepankar Tiwari extended for an additional one-year period.
Price Impact
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