According to the latest filings from the U.S. Securities and Exchange Commission (SEC), Zoomcar Holdings Inc is prohibited from issuing new shares for the proposed warrant exchange program due to restrictions imposed by the trust agreement.
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This restriction means that the company cannot complete the originally planned warrant exchange scheme by issuing common shares, which may have a significant impact on its capital operation plans. SEC filings show that the restriction stems from specific trust arrangement terms, and it is not yet clear how Zoomcar will adjust its financing strategy.
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