Zoomcar sells 80 Series A units in fifth private placement closing for USD 80,000
ZCAR•ZCAR•ZCAR•ZCAR•Each unit includes Series A preferred stock plus a Series A warrant. The preferred stock converts at an initial USD 0.05 per common share. The warrants cover 1,600,000 shares at an exercise price of USD 0.06.
The program targets up to USD 5 million, with up to USD 5 million overallotment, and is scheduled to end on Sept. 4, 2026.
The company issued 80 units at USD 1,000 each for about USD 80,000. It also issued 60 units for non-cash debt settlement of about USD 60,000. Zoomcar said it received USD 200,000 in cash proceeds at the closing.
Zoomcar entered into securities purchase agreements for the fifth closing of an unregistered private placement of Series A units.
