Zoomcar Holdings, Inc. (ZCAR): debt financing — IOAC and Zoomcar S-4 effective; shareholder meeting set for Oct 25 to approve merger

Zoomcar Holdings, Inc.

Registration statement on Form S-4 declared effective by SEC on Sept 29, 2023.
Extraordinary general meeting of IOAC shareholders scheduled for Oct 25, 2023 to vote on business combination.
Record date for IOAC shareholders is Sept 20, 2023.
Closing expected Q4 2023; combined company to list as Zoomcar Holdings, Inc. on NASDAQ under 'ZCAR'.
IOAC issued $90K promissory note to sponsor for third monthly extension, total sponsor support up to $270K.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Zoomcar Holdings, Inc. incurred loan of up to $90,000 with Innovative International Sponsor I LLC at bears no interest maturing on the date on which the Company consummates an initial business combination.

Instrument: loan
Principal: up to $90,000
Counterparty: Innovative International Sponsor I LLC
Rate: bears no interest
Maturity: on the date on which the Company consummates an initial business combination
Event: incurrence

Exact text from the filing

On October 3, 2023, the Company issued a promissory note in favor of the Sponsor (the “Note”) in the principal amount of up to $90,000 for expenses accrued in connection with the third monthly extension. The Note is non-convertible and bears no interest, and the principal balance is payable by the Company on the date on which the Company consummates an initial business combination.

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

Zoomcar Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-106454

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