{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-24-023603","form_type":"8-K","ticker":"ZCAR","cik":"0001854275","company_name":"Zoomcar Holdings, Inc.","filed_at":"2024-03-18T23:59:59+00:00","discovered_at":"2026-05-14T18:03:26.036853+00:00","generated_at":"2026-06-04T15:49:06.883576+00:00","sec_items":["1.01","3.01","9.01"],"event_type":"regulatory","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Zoomcar receives Nasdaq delisting notice; amends lock-up release with sponsors","bullets":["Nasdaq notified Zoomcar that board lacks majority independent directors after resignation of David Ishag; cure period until Jan 2025 or Jul 2024.","Lock-up amendment removes volume/price restrictions and extends release period through original six-month term.","Sponsors to pay $500,000 upfront, then $0.35 per share sold after 1,428,572 shares are sold.","Delisting not imminent; company expects to regain compliance within cure period.","Lock-up release covers 2,375,925 ASJC shares and 2,041,575 Cohen Sponsor shares."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-24-023603","json":"https://secwatch.observer/filing/0001213900-24-023603.json","markdown":"https://secwatch.observer/filing/0001213900-24-023603.md","text":"https://secwatch.observer/filing/0001213900-24-023603.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1854275/000121390024023603/0001213900-24-023603-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1854275/000121390024023603/ea0202008-8k_zoomcar.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T15:49:06.883576+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"c1230c7c877cbf7bec7c63c8335af605b5a5b47f","claim":"Zoomcar Holdings, Inc. received a nasdaq deficiency notice notice regarding board independence (rules 5605, 5605(b)(1)(A)).","evidence_excerpt":"March 12, 2024, the Company received a notice (“ Notice ”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“ Nasdaq ”), notifying the Company that, as a result of the resignation of David Ishag from the board of directors of the Company (the “ Board ”), effective January 30, 2024, the Company is no longer in compliance with the continued listing requirements set forth in Nasdaq Listing Rule 5605, which requires that a majority of the Board be comprised of independent directors. The Notice is only a notification of deficiency, not of imminent delisting, and has no cur","evidence_source":"SEC 8-K Item 3.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1854275/000121390024023603/0001213900-24-023603-index.htm","confidence":0.95,"family_label":"Listing & Compliance Notices","details":[{"label":"Exchange","value":"nasdaq"},{"label":"Notice","value":"deficiency notice"},{"label":"Deficiency","value":"board independence"},{"label":"Rules","value":"5605, 5605(b)(1)(A)"}],"fact_type":"exchange_compliance_notice"},{"claim_id":"071c66c4669f3adda83f8039a303a8fdacc823b0","claim":"Zoomcar Holdings, Inc. amended Amendment with ASJC Global LLC – Series 24 and Cohen Sponsor LLC – A24 RS valued at $500,000 in an upfront cash payment and thereafter, and only after the Lock-Up Release Parties have (effective 2024-03-18).","evidence_excerpt":"On March 18, 2024, the Lock-Up Release Agreement was amended (the “ Amendment ”) pursuant to which (i) the Lock-Up Release Period was extended from 120 days through the end of the original six-month lock-up period, (ii) the volume and stock price restrictions for sales made by the Lock-Up Release Parties during the Lock-Up Release Period were removed and (iii) the payment terms between the Company and Lock-Up Release Parties was modified such that, in lieu of the prior payment schedule, the Lock-Up Release Parties will pay the Company $500,000 in an upfront cash payment and thereafter, and only after the Lock-Up Release Parties have sold 1,428,572 shares, the Lock-Up Release Parties will pay the Company $0.35 per additional share sold during the Lock-Up Release Period.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1854275/000121390024023603/0001213900-24-023603-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"lease"},{"label":"Counterparty","value":"ASJC Global LLC – Series 24 and Cohen Sponsor LLC – A24 RS"},{"label":"Value","value":"$500,000 in an upfront cash payment and thereafter, and only after the Lock-Up Release Parties have"},{"label":"Effective","value":"2024-03-18"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}