---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-054492"
form_type: "8-K"
ticker: "ZCAR"
cik: "0001854275"
company_name: "Zoomcar Holdings, Inc."
filed_at: "2024-06-21T23:59:59+00:00"
generated_at: "2026-06-01T02:59:33.918230+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Zoomcar issues $3.6M notes, terminates CEO, warns cash only through Nov 2024

## Summary
- Issued $3.6M principal notes with 15% interest (20% default) and warrants for 52.97M shares at $0.1416; $3M gross proceeds.
- CEO Greg Moran terminated June 20; COO Hiroshi Nishijima appointed interim CEO.
- Director Graham Gullans resigned; John Clarke and Mark Bailey appointed to board by placement agent Aegis.
- Company expects $1.7M cash after offering fees, sufficient only through Nov 2024 without debt payments.
- Largest investor/director withdrew future support; company needs to raise capital imminently and engaged Aegis for follow-on.

## SEC filing metadata
- accession: 0001213900-24-054492
- form_type: 8-K
- ticker: ZCAR
- cik: 0001854275
- company_name: Zoomcar Holdings, Inc.
- filed_at: 2024-06-21T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1854275/000121390024054492/0001213900-24-054492-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854275/000121390024054492/ea0208166-8k_zoomcar.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-054492
- JSON: https://secwatch.observer/filing/0001213900-24-054492.json
- Plain text: https://secwatch.observer/filing/0001213900-24-054492.txt

## Key facts
- Executive change
  Hiroshi Nishijima was appointed as interim Chief Executive Officer at Zoomcar Holdings, Inc..
  - Action: appointed
  - Role: interim Chief Executive Officer
  source text: the Board appointed Hiroshi Nishijima, the Company’s Chief Operating Officer, as interim Chief Executive Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000121390024054492/0001213900-24-054492-index.htm
- Executive change
  John Clarke was appointed as Director at Zoomcar Holdings, Inc..
  - Action: appointed
  - Role: Director
  source text: Effective as of the closing of the offering, the Board appointed John Clarke and Mark Bailey to the Board as directors to fill vacancies left by the resignations of Mr. Gullans and David Ishag.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000121390024054492/0001213900-24-054492-index.htm
- Executive change
  Greg Moran was terminated as Chief Executive Officer at Zoomcar Holdings, Inc..
  - Action: terminated
  - Role: Chief Executive Officer
  source text: On June 20, 2024, Greg Moran, the Company’s Chief Executive Officer, was terminated from his role.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000121390024054492/0001213900-24-054492-index.htm
- Executive change
  Mark Bailey was appointed as Director at Zoomcar Holdings, Inc..
  - Action: appointed
  - Role: Director
  source text: Mr. Bailey, who has been appointed as a Class III director
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000121390024054492/0001213900-24-054492-index.htm
- Executive change
  Graham Gullans resigned as Director at Zoomcar Holdings, Inc..
  - Action: resigned
  - Role: Director
  source text: On June 18, 2024, in connection with the offering, Graham Gullans resigned from the Board, effective as of the closing of the offering. Mr. Gullans resignation is not due to a disagreement with a Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000121390024054492/0001213900-24-054492-index.htm
- Executive change
  David Ishag resigned as Director at Zoomcar Holdings, Inc..
  - Action: resigned
  - Role: Director
  source text: vacancies left by the resignations of Mr. Gullans and David Ishag
  evidence_url: https://www.sec.gov/Archives/edgar/data/1854275/000121390024054492/0001213900-24-054492-index.htm

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