secwatch / observer
8-K filed January 20, 2023, 6:59 PM ET ticker ZCAR CIK 0001854275
other material confidence high sentiment negative materiality 0.85

Zoomcar Holdings, Inc. (ZCAR): debt financing — SPAC reports 94% public share redemption; trust drops to $31.5M after extension vote

Zoomcar Holdings, Inc.

item 1.01item 2.03item 5.03item 5.07item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Zoomcar Holdings, Inc. incurred loan of up to US$990,000 with Innovative International Sponsor I LLC at bears no interest maturing on the Maturity Date as defined in the Note.

Instrument
loan
Principal
up to US$990,000
Counterparty
Innovative International Sponsor I LLC
Rate
bears no interest
Maturity
on the Maturity Date as defined in the Note
Event
incurrence
Exact text from the filing
In connection with the Trust Agreement Amendment, Innovative International Sponsor I LLC (the "Sponsor") has agreed to make available to the Company an aggregate amount of up to US$990,000 to be used only for expenses accrued in connection with the extension of the date by which the Company must consummate an initial business combination, pursuant to a promissory note in favor of the Sponsor (the "Note"). The Note is non-convertible and bears no interest, and the principal balance is payable by the Company on the Maturity Date, as defined in the Note.
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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Zoomcar Holdings, Inc.: Amendment to extend the date to consummate an initial business combination up to six times from January 29, 2023 to July 29, 2023 (effective 2023-01-19).

Change
charter amendment
Effective
2023-01-19
Exact text from the filing
At the EGM, the shareholders of the Company approved an amendment (the “Charter Amendment”) to the Company’s Amended and Restated Memorandum and Articles of Association to extend the date by which the Company must consummate an initial business combination up to six (6) times for an additional one (1) month each time from January 29, 2023 to July 29, 2023 (which is 21 months from the closing of the Company’s initial public offering). Under Cayman Islands law, the Charter Amendment took effect upon approval by the shareholders.
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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Zoomcar Holdings, Inc. amended Trust Agreement Amendment with American Stock Transfer & Trust Company, LLC (effective 2023-01-19).

Action
amendment
Counterparty
American Stock Transfer & Trust Company, LLC
Effective
2023-01-19
Exact text from the filing
On January 19, 2023, Innovative International Acquisition Corp. (the “Company”) held an extraordinary general meeting of shareholders (the “EGM”) for the purpose of considering and voting on the Charter Amendment and the Trust Agreement Amendment (each as defined below) and, if presented, the proposal to adjourn the EGM to a later date.
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Shareholder Votes SEC 8-K Item 5.07 confidence 0.95

Zoomcar Holdings, Inc. shareholders approved Charter Amendment at the 2023-01-19 meeting.

Proposal
charter amendment
Outcome
passed
Meeting
2023-01-19
Exact text from the filing
The Charter Amendment was a pproved by a special resolution of the Company’s shareholders, and received the following votes: For Against Abstain 28,005,693 426,128 397,591
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Shareholder Votes SEC 8-K Item 5.07 confidence 0.95

Zoomcar Holdings, Inc. shareholders approved Trust Agreement Amendment at the 2023-01-19 meeting.

Outcome
passed
Meeting
2023-01-19
Exact text from the filing
The Trust Agreement Amendment was approved by ordinary resolution of the Company’s shareholders, and received the following votes: For Against Abstain 28,005,693 426,128 0
View on SEC.gov

102 debt financings filed in the last 30 days. Browse all debt financings →

Zoomcar Holdings, Inc. filing history →

Source: SEC EDGAR
accession 0001104659-23-005364
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