secwatch.observer — SEC 8-K summary
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Issuer:     Zoomcar Holdings, Inc. (ZCAR)
CIK:        0001854275
Form:       8-K
Filed at:   2023-12-19T23:59:59+00:00
Accession:  0001104659-23-127171
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IOAC replaces ~$3.26M in existing notes with new promissory notes; Ananda Trust gets convertible note at $3.00/share
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- Issued $2,027,840 unsecured convertible note to Ananda Small Business Trust, no interest, payable 90 days post-business-combination, convertible at $3.00/share (down from $10.00/share).
- Issued unsecured promissory notes to passive investors totaling ~$1,231,368 under substantially the same terms as the existing notes.
- Replacement notes fully satisfy and discharge all existing notes; old notes are terminated immediately.
- Ananda Trust conversion price is lower than the redemption price per public share in the business combination.
- Total outstanding principal replaced: ~$3.26M, consisting of $2,027,840 to Ananda Trust and $1,231,368 to passive investors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854275/000110465923127171/0001104659-23-127171-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854275/000110465923127171/tm2333227d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-127171

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