Zoomcar Holdings, Inc. (ZCAR): debt financing — Zoomcar issues $220K convertible note to FirstFire with 25% conversion discount, 12% interest

Zoomcar Holdings, Inc.

Issued $220K convertible promissory note to FirstFire; net proceeds ~$200K after $20K original issue discount.
Note matures in 12 months, 12% interest, scheduled repayments, prepayable at a discount.
On uncured default after 180 days, conversion at 75% of lowest 15-day VWAP (25% discount).
Issued pre-funded warrants for 1M shares as additional consideration and to settle prior claims.
Piggyback registration rights for 12 months; default penalty increases principal by 50%.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Zoomcar Holdings, Inc. incurred convertible notes of $220,000.00 with FirstFire Global Opportunities Fund, LLC at 12% per annum maturing 12 months after issuance.

Instrument: convertible notes
Principal: $220,000.00
Counterparty: FirstFire Global Opportunities Fund, LLC
Rate: 12% per annum
Maturity: 12 months after issuance
Event: incurrence

Exact text from the filing

On December 10, 2025, Zoomcar Holdings, Inc. (the “Company”) closed a Securities Purchase Agreement (the “Purchase Agreement”) with FirstFire Global Opportunities Fund, LLC (“FirstFire”), in connection with a private placement offering of a convertible promissory note in the original principal amount of $220,000.00 (the “Note”)

View on SEC.gov

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Zoomcar Holdings, Inc. issued convertible note to FirstFire Global Opportunities Fund, LLC for original principal amount of $220,000.00.

Security: convertible note
Purchaser: FirstFire Global Opportunities Fund, LLC
Consideration: original principal amount of $220,000.00

Exact text from the filing

On December 10, 2025, Zoomcar Holdings, Inc. (the "Company") closed a Securities Purchase Agreement (the "Purchase Agreement") with FirstFire Global Opportunities Fund, LLC ("FirstFire"), in connection with a private placement offering of a convertible promissory note in the original principal amount of $220,000.00 (the "Note")

View on SEC.gov

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Zoomcar Holdings, Inc. issued 1,000,000 shares of the Company's common stock of warrant to FirstFire Global Opportunities Fund, LLC for as additional consideration.

Security: warrant
Shares: 1,000,000 shares of the Company's common stock
Purchaser: FirstFire Global Opportunities Fund, LLC
Consideration: as additional consideration

Exact text from the filing

pre-funded warrants to purchase 1,000,000 shares of the Company's common stock (the "Pre-Funded Warrants") as additional consideration

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Zoomcar Holdings, Inc. entered into Securities Purchase Agreement with FirstFire Global Opportunities Fund, LLC valued at $220,000.00 (effective 2025-12-10).

Action: entry
Agreement: equity purchase
Counterparty: FirstFire Global Opportunities Fund, LLC
Value: $220,000.00
Effective: 2025-12-10

Exact text from the filing

On December 10, 2025, Zoomcar Holdings, Inc. (the "Company") closed a Securities Purchase Agreement (the "Purchase Agreement") with FirstFire Global Opportunities Fund, LLC ("FirstFire"), in connection with a private placement offering of a convertible promissory note in the original principal amount of $220,000.00

View on SEC.gov

102 debt financings filed in the last 30 days. Browse all debt financings →

Zoomcar Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-122278

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.