Summary by Moomoo AI
Zoomcar Holdings entered a securities purchase agreement on November 5, 2024, raising $9.15M through a private placement offering. The company sold 2,137,850 units at $4.28 each, comprising common stock and warrants. After deductions, Zoomcar retained net proceeds of $3.621M, with $3.804M used to repay outstanding debt.The offering included complex warrant structures with reset adjustments and anti-dilution protections, subject to stockholder approval. Aegis Capital Corp. acted as placement agent, receiving fees and warrants. The company must file a resale registration statement within 15 days and ensure its effectiveness within 45-60 days.Separately, Zoomcar regained compliance with Nasdaq's minimum bid price requirement on November 7, 2024, after maintaining a closing bid price of $1.00 or higher for 12 consecutive business days.
