Summary by Moomoo AI
Zoomcar Holdings completed a $9.15 million private placement on November 7, 2024, selling 2.137 million units at $4.28 each, including $2.5 million from a director. Each unit comprises one common share, two Series A Warrants, and one Series B Warrant. After deducting fees and expenses, the company retained net proceeds of $3.621 million, with $3.804 million used to repay outstanding debt.The Series A Warrants are exercisable for five years at $4.03 per share, while Series B Warrants have a $0.0001 exercise price. Both warrant series include reset adjustments and anti-dilution protections, subject to stockholder approval within 60 days. The company must file a registration statement within 15 days of closing.Separately, Zoomcar regained Nasdaq compliance on November 7, 2024, after maintaining a closing bid price above $1.00 for 12 consecutive business days from October 22 to November 6, 2024. Aegis Capital Corp. served as placement agent, receiving fees and warrants as compensation.
