Corporate ActionJun 23, 2026, 04:23 PM
Zoomcar Raises $537K in Second Closing of Private Placement
AI Summary
Zoomcar Holdings Inc. completed the second closing of its previously announced private placement, raising approximately $537,000 in gross proceeds. The company issued 662 Series A units, each comprising one Series A Convertible Preferred Stock and one Series A warrant, at a price of $1,000 per unit. The total offering aims to raise up to $5 million, with an option for an additional $5 million, and is set to conclude by June 30, 2026. The Preferred Shares are convertible at $0.05 per share, and warrants are exercisable at $0.0625 per share.
Key Highlights
- Second closing of private placement raised approximately $537,000 in gross proceeds.
- Issued 662 Series A units, each at a purchase price of $1,000.
- Each unit includes one Series A Convertible Preferred Stock and one Series A warrant.
- Total offering aims for up to $5,000,000, with an additional $5,000,000 overallotment option.
- Preferred Shares are convertible into Common Stock at an initial price of $0.05 per share.
- Warrants have an exercise price of $0.0625 per share and expire in five years.
- Placement agent, ThinkEquity LLC, received a 10.0% cash fee and warrants for 67 shares.
- Offering is scheduled to terminate on June 30, 2026, unless extended.
Price Impact
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