secwatch.observer — SEC 8-K summary
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Issuer:     Zoomcar Holdings, Inc. (ZCAR)
CIK:        0001854275
Form:       8-K
Filed at:   2025-12-16T23:59:59+00:00
Accession:  0001213900-25-122278
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zoomcar issues $220K convertible note to FirstFire with 25% conversion discount, 12% interest
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- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854275/000121390025122278/0001213900-25-122278-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854275/000121390025122278/ea0269955-8k_zoomcar.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-122278

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer