---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-129805"
form_type: "8-K"
ticker: "ZCAR"
cik: "0001854275"
company_name: "Zoomcar Holdings, Inc."
filed_at: "2023-12-28T23:59:59+00:00"
generated_at: "2026-06-07T06:30:46.380677+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# SPAC IOAC shareholders approve NTA amendment to facilitate Zoomcar merger

## Summary
- Shareholders approved removal of $5,000,001 net tangible asset redemption limitation.
- NTA Amendment effective upon shareholder vote on Dec 21, 2023; filed with Cayman registry.
- Amendment clears path for Domestication and Business Combination with Zoomcar, Inc.
- Post-merger entity to be renamed Zoomcar Holdings, Inc.

## SEC filing metadata
- accession: 0001104659-23-129805
- form_type: 8-K
- ticker: ZCAR
- cik: 0001854275
- company_name: Zoomcar Holdings, Inc.
- filed_at: 2023-12-28T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1854275/000110465923129805/0001104659-23-129805-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854275/000110465923129805/tm2333812d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-129805
- JSON: https://secwatch.observer/filing/0001104659-23-129805.json
- Plain text: https://secwatch.observer/filing/0001104659-23-129805.txt

## Key facts
- Governance Changes
  Zoomcar Holdings, Inc.: Removed requirement limiting ability to redeem ordinary shares and consummate initial business combination if redemptions would cause net tangible assets below $5,000,001 (effective 2023-12-19).
  - Change: charter amendment
  - Effective: 2023-12-19
  source text: At the Business Combination Meeting, the shareholders of IOAC approved by special resolution under Cayman Islands law, amendments (collectively, the “NTA Amendment”) to IOAC’s Amended and Restated Memorandum and Articles of Association (the “Existing Organizational Documents”) to remove the requirements contained in the Existing Organizational Documents limiting IOAC’s ability to redeem ordinary shares and consummate an initial business combination if such redemptions would cause IOAC to have less than $5,000,001 in net tangible assets.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000110465923129805/0001104659-23-129805-index.htm

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