Zoomcar Holdings Announces Sixth Closing of Series A Private Placement

What Happened
On September 11, 2026, Zoomcar Holdings, Inc. entered into a securities purchase agreement and completed the sixth closing of a previously announced private placement of Series A Units. The Company issued 156 Units at $1,000 per Unit (aggregate gross proceeds of ~ $155,000). Each Unit consists of one Series A Convertible Preferred Share (stated value $1,000) and one Series A warrant to purchase 20,000 shares of common stock. Subscription amounts were deposited into escrow with CSC Delaware Trust Company pending the Sixth Closing.

Key Details

• 156 Units sold at $1,000 each for aggregate gross proceeds of approximately $155,000.
• Each Unit: one Preferred Share convertible at an initial conversion price of $0.05 per common share (20,000 shares per Preferred) and one Warrant exercisable at $0.0625 per share (20,000 shares per Warrant); the Sixth Closing Warrants cover up to 3,120,000 common shares and the Preferred conversion also equals 3,120,000 common shares (pre‑reverse split).
• Placement agent (ThinkEquity LLC) compensation: 10% cash fee on gross proceeds, 1% non‑accountable expense allowance, reimbursement of certain expenses, and Placement Agent Warrants equal to 10% of the shares underlying securities sold (up to 312,000 Placement Agent Warrant shares at the Sixth Closing).
• Offering terms: up to $5,000,000 of Units plus up to an additional $5,000,000 issuable under an overallotment option; minimum subscription threshold of $1,000,000 was satisfied; offering scheduled to terminate October 9, 2026 (unless extended). Registration rights require the Company to file a resale registration statement within 15 calendar days after the Sixth Closing and use best efforts to make it effective; partial liquidated damages are provided if registration obligations are not met.

Why It Matters
This transaction raises additional capital and expands the pool of convertible and exercisable securities that could dilute existing shareholders if converted or exercised. The conversion price ($0.05) and warrant exercise price ($0.0625) imply significant potential share issuance from this single closing (combined up to ~6,240,000 common shares from the Preferred conversions and Warrants stated above, before giving effect to the previously approved reverse split). Placement agent fees and warrants reduce the net proceeds and add further potential dilution. Registration rights mean the shares issuable on conversion or exercise are intended to be registered for resale, which affects future liquidity and float.