---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-122897"
form_type: "8-K"
ticker: "ZCAR"
cik: "0001854275"
company_name: "Zoomcar Holdings, Inc."
filed_at: "2023-12-01T23:59:59+00:00"
generated_at: "2026-06-07T19:34:36.272225+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# IOAC shareholders approve one-month extension; ~$187.5M redeemed from trust

## Summary
- Shareholders approved extension of business combination deadline from Nov 29 to Dec 29, 2023.
- 16,346 public shares redeemed; ~$187.5M removed from trust, leaving ~$28.0M.
- Sponsor provided up to $200,000 promissory note for working capital, no interest.
- After redemptions, public shares outstanding reduced to 2,444,075.

## SEC filing metadata
- accession: 0001104659-23-122897
- form_type: 8-K
- ticker: ZCAR
- cik: 0001854275
- company_name: Zoomcar Holdings, Inc.
- filed_at: 2023-12-01T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 5.03, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1854275/000110465923122897/0001104659-23-122897-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854275/000110465923122897/tm2331952d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-122897
- JSON: https://secwatch.observer/filing/0001104659-23-122897.json
- Plain text: https://secwatch.observer/filing/0001104659-23-122897.txt

## Key facts
- Debt Financings
  Zoomcar Holdings, Inc. incurred loan of up to $200,000 with Innovative International Sponsor I LLC at no interest maturing the date of the consummation of the Company’s initial business combination.
  - Instrument: loan
  - Principal: up to $200,000
  - Counterparty: Innovative International Sponsor I LLC
  - Rate: no interest
  - Maturity: the date of the consummation of the Company’s initial business combination
  - Event: incurrence
  source text: On December 1, 2023, the Company issued an unsecured promissory note (the “Note”), in the amount of up to $200,000 to Innovative International Sponsor I LLC.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000110465923122897/0001104659-23-122897-index.htm
- Governance Changes
  Zoomcar Holdings, Inc.: The Company's shareholders approved an amendment (Extension Amendment) to the Amended and Restated Memorandum and Articles of Association to extend the date by which the Company must consummate an initial business combination from November 29, 2023 to December 29, 2023 (effective 2023-11-29).
  - Change: charter amendment
  - Effective: 2023-11-29
  source text: At the Extension Meeting, the shareholders of the Company also approved an amendment (the “Extension Amendment”) to the Company’s Amended and Restated Memorandum and Articles of Association, as amended, to extend the date by which the Company must consummate an initial business combination for one (1) month, from November 29, 2023 to December 29, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000110465923122897/0001104659-23-122897-index.htm
- Shareholder Votes
  Zoomcar Holdings, Inc. shareholders approved Trust Agreement Amendment at the 2023-11-29 meeting.
  - Proposal: charter amendment
  - Outcome: passed
  - Meeting: 2023-11-29
  source text: The Trust Agreement Amendment was approved by the affirmative vote of at least 65% of the Company’s outstanding Class A ordinary shares and Class B ordinary shares, and received the following votes: For Against Abstain 9,110,000 0 0
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000110465923122897/0001104659-23-122897-index.htm
- Shareholder Votes
  Zoomcar Holdings, Inc. shareholders approved Extension Amendment to extend the date by which the Company must consummate a business combination at the 2023-11-29 meeting.
  - Proposal: charter amendment
  - Outcome: passed
  - Meeting: 2023-11-29
  source text: The Extension Amendment was a pproved by a special resolution of the Company’s shareholders, and received the following votes: For Against Abstain 9,110,000 0 0
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000110465923122897/0001104659-23-122897-index.htm

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