debt
confidence high
sentiment neutral
materiality 0.55
Zoomcar completes Fifth Closing of Series A unit offering; settles $60K vendor obligations
Zoomcar Holdings, Inc.
- Fifth Closing issued 80 Units (80 Preferred Shares + 80 Warrants for 1.6M common shares), aggregate consideration ~$80,000.
- 60 Units issued non-cash to settle ~$60,000 accrued obligations; 20 Units for $20,000 cash proceeds.
- Warrants exercisable immediately at $0.0625/share for 5 years; Preferred convertible at $0.05/share.
- Offering termination extended from Sept 4, 2026 to Sept 20, 2026; up to $5M plus $5M overallotment.
- Exhibit 10.1: 30 Units to noteholder for waiver of Event of Default on $4M Dec 24, 2025 note (amortization due June 24, 2026).