Zoomcar Holdings, Inc., the Nasdaq-listed leading marketplace for self-drive car sharing headquartered in India, today announced the closing of a private placement with certain institutional investors. The aggregate gross cash proceeds were USD9.15 million, before deducting fees to the placement agent and other offering expenses payable by the company, and includes a USD2.5 million investment by one of the Company’s directors.
The company used the net proceeds from the private placement to repay approximately USD3.8 million of outstanding indebtedness to certain institutional investors and intends to use the remainder for general corporate…
