Zoomcar Holdings, Inc. - Common Stock (ZCAR)

Bangalore, India, March 19, 2025 (GLOBE NEWSWIRE) -- Zoomcar Holdings, Inc. (Nasdaq: ZCAR) (“Zoomcar” or the “Company”),  a Nasdaq-listed leading marketplace for self-drive car sharing, announced today that it will effect a reverse stock split of its issued and outstanding shares of common stock, par value $0.0001 per share, at a ratio of 1-for-20. The reverse stock split will become effective at 4:30 p.m. Eastern Time on March 21, 2025, and the Company’s common stock will begin trading on a split-adjusted basis when the market opens on March 24, 2025. The Company’s common stock will continue to trade on the Nasdaq Global Market (“Nasdaq”) under the symbol “ZCAR.” The new CUSIP number for the Company’s common stock following the reverse stock split will be 45784G309.

NEW YORK, NY / ACCESS Newswire / March 18, 2025 / The Investor Summit is excited to announce that presentations from Q1 Investor Summit are now available for on-demand viewing. Attendees and investors who missed the live sessions can now access company presentations at their convenience.

BENGALURU, IN / ACCESS Newswire / March 5, 2025 / Hiroshi Nishijima, Chief Executive Officer of Zoomcar Holdings, Inc., will be presenting at this year's Investor Summit Virtual on March 11th.

Aegis Capital has been in the wealth management and investment banking business since 1984 and is dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Aegis announced that it acted as the exclusive placement agent on a $5.48 million private placement for Zoomcar Holdings (NASDAQ: ZCAR) .

Aegis Capital Corp. has been in the wealth management and investment banking business since 1984 and is dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Aegis has announced that it acted as exclusive placement agent on a $9.15 million private placement for Zoomcar Holdings (NASDAQ: ZCAR) . According to ZCAR, the company used the net proceeds from the private placement to repay approximately $3.8 million of outstanding indebtedness to certain institutional investors and intends to use the remainder for general corporate purposes and working capital.

Zoomcar Holdings (NASDAQ: ZCAR), a marketplace for car sharing in emerging markets, recently announced the closing of a private placement. According to the announcement, the company closed the purchase and sale of approximately $3.6 million of promissory notes and investor warrants for expected aggregate gross proceeds of $3 million with institutional investors. The private placement consisted of the sale of senior non-convertible notes in an aggregate principal amount of $3,600,000 and warrants to purchase approximately 53 million shares of company common stock with an exercise price of $0.1416 per unit. The notes, issued at an original issue discount of approximately 16.67%, will bear interest at 15% per year unless an event of default has occurred, upon which interest accrues at 20% per year. The warrants are exercisable beginning on the later of (a) the six-month anniversary of issuance and (b) the date the company’s stockholders provide approval. Zoomcar intends to use the net proceeds from the offering, together with its existing cash, for general corporate purposes and working capital. Aegis Capital Corp. acted as the exclusive placement agent for the private placement.