Zoomcar closes $5.48M first tranche of private placement; CEO and consultant participate

Zoomcar Holdings, Inc.

Gross proceeds of $5.48M; net proceeds approximately $4.79M after fees and expenses.
Issued 3,095,925 shares of common stock and pre-funded warrants for 420,000 shares at $1.56 per unit.
Also issued Series A warrants to purchase up to 8,680,443 shares at $1.95 exercise price, subject to reset.
Series B warrants initially for zero shares; reset based on future stock price after stockholder approval.
Acting CEO invested $50,000 and a consultant invested $300,000 in the offering.

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