IPO - Zoomcar Holdings, Inc.

Form Type: S-1/A

Filing Date: 2025-05-12

Corporate Action: Ipo

Type: New

Accession Number: 000121390025041769

Filing Summary: On May 12, 2025, Zoomcar Holdings, Inc. filed Amendment No. 1 to its Form S-1 registration statement with the SEC, intending to raise up to $15 million through an initial public offering (IPO) of its common stock. The offering includes the sale of up to 3,685,503 shares of common stock and 3,685,503 pre-funded warrants. The shares are priced at an assumed offering price of $4.07 per share. The purpose of the offering is to facilitate further capital for the company following its recent business combination, which involved merging with Innovative International Acquisition Corp. Changes have been made to accommodate both a first reverse stock split at a 1-for-100 ratio and a subsequent 1-for-20 ratio, which has affected the issuance of shares and warrants. The company has engaged Aegis Capital Corp. as an exclusive placement agent for this offering, and it is currently classified as an emerging growth company, allowing it to comply with reduced public reporting requirements. The offering was conducted without any escrow provisions for investor funds with the placement agent not required to purchase or sell specific amounts. Potential risks related to the investment include market factors, competition, and operational challenges following the merger. The expected timeframe for the sales of securities is immediate upon the effective date of the registration statement.

Form Type: S-1

Filing Date: 2025-05-05

Corporate Action: Ipo

Type: New

Accession Number: 000121390025039778

Filing Summary: Zoomcar Holdings, Inc. is filing a Registration Statement for an initial public offering (IPO) under the Securities Act of 1933. The offering consists of approximately 3,685,503 shares of Common Stock, with a proposed maximum offering price of $15,000,000 based on an assumed price of $4.07 per share, the closing price of their Common Stock on April 30, 2025. Additionally, the company offers up to 3,685,503 pre-funded warrants that can be converted into shares, allowing purchasers who would otherwise exceed a certain ownership threshold to buy shares at a reduced price. The Company is an emerging growth company and will be complying with reduced public company reporting requirements. There are significant risks outlined in the prospectus, primarily concerning the potential delisting of its shares from Nasdaq and the impacts on liquidity and growth strategies. The company operates an online car sharing platform primarily in emerging markets, connecting Hosts and Guests for vehicle sharing. The business underwent a merger in 2023, which prompted the name change from Innovative International Acquisition Corp. to Zoomcar Holdings, Inc., marking a significant transition in its corporate structure and stock trading.

Form Type: S-1

Filing Date: 2024-12-02

Corporate Action: Ipo

Type: New

Accession Number: 000121390024104569

Filing Summary: Zoomcar Holdings, Inc. has filed a Registration Statement under the Securities Act of 1933 on Form S-1 for the proposed sale of 13,206,386 shares of its Common Stock. This includes shares issued pursuant to the November and June Securities Purchase Agreements and as a commitment fee to White Lion Capital LLC. The registration is initiated following a Merger with Innovative International Acquisition Corp., under which Zoomcar, Inc. has become a wholly-owned subsidiary. The filed prospectus outlines that the company is an emerging growth and smaller reporting company, which allows it certain reporting exemptions and has implications for investors. The prospectus also describes the nature of the offering, the total shares being offered, and the risks involved in purchasing the company's Common Stock, including potential price volatility associated with the resale of shares by Selling Holders. Furthermore, past financial conditions, current liquidity, and capital resource concerns are addressed, emphasizing the associated risks and the business strategy post-merger. The company's common stock trades under the symbol ‘ZCAR’ on Nasdaq, with a recent share price of $6.51 prior to filing the prospectus. Key implications of the recent reverse stock split that occurred in October 2024 are also mentioned, along with the technical aspects of the warrant exercises.