---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-093943"
form_type: "8-K"
ticker: "ZCAR"
cik: "0001854275"
company_name: "Zoomcar Holdings, Inc."
filed_at: "2023-08-21T23:59:59+00:00"
generated_at: "2026-06-11T06:31:43.073250+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Innovative International (IOAC) issues $500K promissory note to sponsor for working capital before business combination

## Summary
- Up to $500,000 unsecured note issued to sponsor Innovative International Sponsor I LLC on August 18, 2023.
- Note bears no interest; principal due on consummation of initial business combination.
- Sponsor waives all claims against the trust account from IPO proceeds.
- Drawdowns available before Maturity Date; Payee must fund within two business days.
- Unpaid principal automatically due upon certain bankruptcy or default events.

## SEC filing metadata
- accession: 0001104659-23-093943
- form_type: 8-K
- ticker: ZCAR
- cik: 0001854275
- company_name: Zoomcar Holdings, Inc.
- filed_at: 2023-08-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1854275/000110465923093943/0001104659-23-093943-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854275/000110465923093943/tm2324289d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-093943
- JSON: https://secwatch.observer/filing/0001104659-23-093943.json
- Plain text: https://secwatch.observer/filing/0001104659-23-093943.txt

## Key facts
- Debt Financings
  Zoomcar Holdings, Inc. incurred loan of up to $500,000 with Innovative International Sponsor I LLC at bears no interest maturing the date of the consummation of the Company's initial business combination.
  - Instrument: loan
  - Principal: up to $500,000
  - Counterparty: Innovative International Sponsor I LLC
  - Rate: bears no interest
  - Maturity: the date of the consummation of the Company's initial business combination
  - Event: incurrence
  source text: On August 18, 2023, Innovative International Acquisition Corp. (the “Company”) issued an unsecured promissory note (the “Note”), in the amount of up to $500,000 to Innovative International Sponsor I LLC.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000110465923093943/0001104659-23-093943-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.