secwatch.observer — SEC 8-K summary
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Issuer:     Zoomcar Holdings, Inc. (ZCAR)
CIK:        0001854275
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001213900-24-041048
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zoomcar enters $25M equity line with White Lion; gets Nasdaq bid price deficiency
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- Entered Common Stock Purchase Agreement with White Lion Capital for up to $25M in shares over two years; commitment shares of $312,500.
- Nasdaq notified Zoomcar of non-compliance: bid price below $1.00 for 33 consecutive days; must regain by November 4, 2024.
- Also notified of market value of listed securities below $50M for 31 consecutive days; same compliance deadline of November 4, 2024.
- Equity line allows three purchase types (initial, rapid, VWAP) with purchase price discounts of 3% or more, subject to volume and price limits.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854275/000121390024041048/0001213900-24-041048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854275/000121390024041048/ea0205590-8k_zoomcar.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-041048

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