secwatch.observer — SEC 8-K summary
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Issuer:     Zoomcar Holdings, Inc. (ZCAR)
CIK:        0001854275
Form:       8-K
Filed at:   2023-01-04T23:59:59+00:00
Accession:  0001104659-23-000911
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Innovative International Acquisition issues up to $500K unsecured note to sponsor affiliate
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- Promissory note of up to $500,000 issued January 3, 2023 to Ananda Small Business Trust, an affiliate of the sponsor.
- Note bears no interest; principal due upon consummation of initial business combination (maturity date).
- Proceeds may be drawn down from time to time prior to maturity; maximum aggregate drawdown is $500,000.
- Payee waives any claim against the trust account established from IPO proceeds (trust waiver clause).
- Note is unsecured and subject to customary events of default; prepayment permitted at any time.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854275/000110465923000911/0001104659-23-000911-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854275/000110465923000911/tm231698d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-000911

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer