Zoomcar Holdings raised approximately $75,000 from the sale of 75 Series A Units at a purchase price of $1,000 per unit during its seventh private placement closing on October 23, 2026. Each Unit consists of one share of Series A Convertible Preferred Stock and one warrant to purchase 20,000 shares of common stock. Concurrently, the conversion price for the preferred stock reset from $0.05 to $0.0116 per share due to anti-dilution provisions triggered by prior conversions, increasing convertible shares to 86,206 per preferred share and creating substantial dilution. The company also received a notice from OTC Markets regarding public float non-compliance but has been granted a cure period through December 21, 2026. Zoomcar Holdings operates in the mobility sector, providing on-demand car rental and ride-hailing services.
