---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-100135"
form_type: "8-K"
ticker: "ZCAR"
cik: "0001854275"
company_name: "Zoomcar Holdings, Inc."
filed_at: "2024-01-02T23:59:59+00:00"
generated_at: "2026-06-07T05:32:15.253395+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Zoomcar accelerates release of Earnout Shares from escrow, removes price-based conditions

## Summary
- First Amendment eliminates all Earnout Share price-based conditions and related definitions.
- Earnout Shares to be released immediately from escrow upon joint instruction, no longer tied to stock price milestones.
- Shares valued at $10 per share to be distributed pro rata to former Zoomcar stockholders.

## SEC filing metadata
- accession: 0001213900-23-100135
- form_type: 8-K
- ticker: ZCAR
- cik: 0001854275
- company_name: Zoomcar Holdings, Inc.
- filed_at: 2024-01-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1854275/000121390023100135/0001213900-23-100135-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854275/000121390023100135/ea190939-8k_zoomcar.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-100135
- JSON: https://secwatch.observer/filing/0001213900-23-100135.json
- Plain text: https://secwatch.observer/filing/0001213900-23-100135.txt

## Key facts
- Material Agreements
  Zoomcar Holdings, Inc. amended First Amendment to the Agreement and Plan of Merger and Reorganization with Innovative International Acquisition Corp. valued at Amended Merger Agreement to accelerate distribution of Earnout Shares (effective 2023-12-29).
  - Action: amendment
  - Agreement: merger
  - Counterparty: Innovative International Acquisition Corp.
  - Value: Amended Merger Agreement to accelerate distribution of Earnout Shares
  - Effective: 2023-12-29
  source text: On December 29, 2023, the Parties entered into the First Amendment to the Agreement and Plan of Merger and Reorganization (the “ First Amendment ”), pursuant to which the Parties amended the Merger Agreement to accelerate the distribution of the Earnout Shares such that the Earnout Shares cease to be subject to conditions based on trading pricesand will, instead, be immediately released from the Earnout Escrow Account for distribution to Zoomcar Stockholders in the manner described in, and subject to the terms of, the Merger Agreement .
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000121390023100135/0001213900-23-100135-index.htm

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