secwatch.observer — SEC 8-K summary
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Issuer:     Zoomcar Holdings, Inc. (ZCAR)
CIK:        0001854275
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0001104659-23-084387
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 5.02, 5.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IOAC shareholders approve extension to Oct 29, 2023; ~$3.8M redeemed; director resigns
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- Shareholders approved extending business combination deadline up to October 29, 2023, with up to three one-month extensions.
- Trust agreement amended to require monthly deposit of lesser of $90,000 or $0.03 per public share for each extension.
- Sponsor committed up to $270,000; issued non-interest promissory note of up to $180,000 for extension expenses.
- Director Valarie Sheppard resigned July 21, 2023; resignation not due to disagreement with company.
- Shareholders redeemed 339,914 public shares at ~$11.13/share; $30.17M remains in trust; 2.71M public shares outstanding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854275/000110465923084387/0001104659-23-084387-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854275/000110465923084387/tm2322023d3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-084387

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