Summary by Moomoo AI
Zoomcar Holdings has secured $5.48 million through a private placement on December 24, 2024, issuing 3,095,925 common shares and pre-funded warrants for 420,000 shares at $1.56 per unit. The offering includes Series A and Series B warrants, with Series A warrants exercisable at $1.95 per share for five years. After deducting fees and expenses, net proceeds totaled approximately $4.79 million.The deal structure includes significant investor protections, with Series A warrants containing reset adjustments and anti-dilution provisions. The company must obtain stockholder approval within 60 days for warrant exercisability. The warrants feature a floor price of $0.312 post-stockholder approval and include provisions for fundamental transaction protection.Aegis Capital Corp. serves as placement agent, receiving a 10% cash fee, 3% expense allowance, and warrant compensation. The company granted Aegis an 18-month restriction on variable rate transactions and a two-year right of first refusal for future financings. The securities were offered under Section 4(a)(2) of the Securities Act and Regulation D.
