Financing ·
Zoomcar Holdings, Inc. completed the third closing of its Series A private placement, selling 195 Units (comprising…
ZCARWZoomcar Holdings, Inc.
Zoomcar Holdings, Inc. completed the third closing of its Series A private placement, selling 195 Units (comprising 195 Preferred Shares and 195 Warrants) for approximately $195,000 in gross proceeds. The offering is part of a larger $5,000,000 offering of Series A units, a total potential offering size of $10,000,000 including an overallotment option. The Preferred Shares are convertible to common stock at an initial conversion price of $0.05 per share, and the Warrants have an exercise price of $0.0625 per share. Additionally, the company has extended the term of CEO Deepankar Tiwari's consultancy agreement to May 9, 2027. Zoomcar Holdings, Inc. is a car rental and mobility services company.