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Zoomcar Announces Pricing of $9.15 million Private Placement

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BANGALORE, India, Nov. 6, 2024 /PRNewswire/ — Zoomcar Holdings, Inc. (“Zoomcar” or the “Company”) (NASDAQ: ZCAR), the Nasdaq-listed leading marketplace for self-drive car sharing, today announced the pricing of a private placement with certain institutional investors. The aggregate gross cash proceeds are expected to be $9.15 million, before deducting fees to the placement agent and other offering expenses payable by the Company. The Company intends to use the net proceeds from the private placement to repay approximately $3.6 million of outstanding indebtedness to certain institutional creditors and for general corporate purposes and working capital.

In connection with the private placement, the Company is planning to issue an aggregate of 2,137,850 units. Each unit will be sold at an effective unit price of $4.28 per unit and will consist of one share of common stock (or one pre-funded warrant in lieu thereof), two (2) Series A warrants, each exercisable for one share of common stock at an initial exercise price of $4.03 per share and one Series B warrant at an exercise price of $0.0001 to purchase such number of shares of common stock as will be determined on the Reset Date (as defined in the Series B warrant). The Series A warrants and the Series B warrants are exercisable beginning on the date that Stockholder Approval (as defined in the Series A warrant) is obtained. The Series A warrants will have a term of 5 years and the Series B warrants are exercisable until exercised in full. The exercise price and number of shares of common stock issuable upon exercise of the Series A warrants are subject to adjustment on the Reset Date, upon future dilutive issuances and following reverse stock splits, in each case, subject to a floor, and the exercise price and number of shares of common stock issuable upon exercise of the Series B warrants are subject to adjustment upon reverse stock splits, subject to a floor, and in each case, as will be described in more detail in the Current Report on Form 8-K to be filed in connection with the private placement.

The closing of the private placement is expected to occur on or about November 6, 2024, subject to the satisfaction of certain customary closing conditions.

Aegis Capital Corp. is acting as the Exclusive Placement Agent for the private placement.

The securities described above are being sold in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended (the “Act”), and have not been registered under the Act, or applicable state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws. Pursuant to a registration rights agreement with the investors, the Company has agreed to file one or more registration statements with the Securities and Exchange Commission (the “SEC”) covering the resale of the common stock sold in the private placement and the common stock issuable upon exercise of the pre-funded warrants and the warrants sold in the private placement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Zoomcar

Founded in 2013 and headquartered in Bengaluru, India, Zoomcar is a leading marketplace for car sharing focused in India. The Zoomcar community connects Hosts with Guests, who choose from a selection of cars for use at affordable prices, promoting sustainable, smart transportation solutions in India.

Safe Harbor Statement

This press release contains, or may contain, among other things, certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements include, without limitation, statements related to the closing of this offering, the exercise of the warrants and receipt the proceeds therefrom, the ability for the Company to utilize the financing to fund operations and other statements identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties, including, but not limited, to market conditions and those other risks detailed in the Company’s filings with the Securities and Exchange Commission. Actual results and timing may differ significantly from those set forth or implied in the forward-looking statements. Forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future presentations or otherwise, except as required by applicable law.

Contact

Akarshit Gulati: akarshitg@avianwe.com 
Bhagyashree Rewatkar: bhagyashree.rewatkar@zoomcar.com

Logo: https://mma.prnewswire.com/media/2517562/4938039/Zoomcar_Logo.jpg

 

View original content:https://www.prnewswire.com/news-releases/zoomcar-announces-pricing-of-9-15-million-private-placement-302297219.html

SOURCE Zoomcar Holdings, Inc.

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BlackPearl Technology Unveils the Beacon: The Next-Generation Micro Power-Over-Ethernet Edge Gateway for Unmatched Data Aggregation and Connectivity

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November 6, 2024

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BlackPearl Technology’s Beacon is a compact, PoE-powered gateway that extends the Zephyr gauge, supporting up to 200 sensors over a 15-mile range with secure data processing and seamless SCADA integration, redefining industrial IoT.

THE WOODLANDS, Texas, Nov. 6, 2024 /PRNewswire-PRWeb/ — BlackPearl Technology, Inc. is excited to announce the launch of the Beacon, an extended communications module for the award-winning Zephyr. It redefines edge gateway capabilities, offering unparalleled data aggregation and processing in an ultra-compact, PoE-powered micro device. Seamlessly bridge your wireless infrastructure to wired backends or SCADA systems with ease.

“The Beacon represents a quantum leap in edge gateway technology. By combining it with our Zephyr wireless gauge, we’ve created something truly revolutionary in the industrial IoT space,” said David Smith, Co-Founder & VP of Innovation at BlackPearl Technology, Inc.

Key Features and Benefits:

Powered by the Interceptor: Embedded Linux platform for customizable edge software and processing.Advanced LoRaWAN: Built-in concentrator with 15-mile range; network gateway and join server for isolated nodes – eliminates need for external gatewayMassive Aggregation: Collects data from thousands of sensors via WiFi, Bluetooth, and LoRaWAN – can support up to 200 ZephyrsVersatile Connectivity: Bi-directional communication; bridges wireless to wired systems; supports Modbus TCP/IP, RS-485, and MQTTRobust Security: Implements SSL/TLS support for secure data transmission and encrypted storageUser-Friendly Management: Features an embedded web server for easy configuration and updatesCloud Integration: Enables seamless compatibility with partner and private cloud platforms, supporting cloud-based device management for OTA diagnostics and configuration.Flexible Deployment: Adapts to both greenfield (new sensors) and brownfield (existing) systems, operating seamlessly in isolated environments without cloud connectivity.Industrial-Grade: Operates from -40°C to 85°C, comes in a Class 2, Division 2 enclosure (other enclosures available upon request)Edge Processing: Runs almost any edge application, processes data locally, and transmits only critical informationAvailability: Readily available and made in North America

“The Beacon represents a quantum leap in edge gateway technology. By combining it with our Zephyr wireless instrument gauge, we’ve created something truly revolutionary in the industrial IoT space. You have the Zephyr, which can support up to eleven different sensors in one explosion-proof package, communicating with a micro-sized PoE gateway that can handle up to 200 Zephyrs across a 15-mile range. This isn’t just another data collection system – it’s a complete edge-to-edge solution that can transform how industries handle remote monitoring,” said David Smith, Co-Founder and VP of Innovation at BlackPearl Technology.

“What makes this combination so powerful is its versatility and intelligence at the edge. The Beacon processes data locally and sends only what’s critical, while seamlessly bridging wireless infrastructure to wired backends. Whether you’re monitoring wellheads in the Permian Basin, managing agricultural operations across thousands of acres, or overseeing critical refinery equipment, this system adapts to your needs. And with its industrial-grade design operating from -40°C to 85°C and its ability to work in isolated environments without cloud connectivity, it’s built for the real world, not just the ideal world. This is the future of industrial monitoring, and it’s available today.”

This launch follows the recent introduction of BlackPearl’s Zephyr wireless instrument gauge, and Data Nebula, their IIoT cloud data platform. Together, this trio redefines industrial data management, setting a new standard for IIoT solutions with advanced data aggregation, robust processing power, and versatile connectivity options.

For more information and specifications, or to download the data sheet, please visit www.BlackPearlTechnology.com.

About BlackPearl Technology, Inc.:

Headquartered in The Woodlands, Texas, BlackPearl Technology is a leading provider of innovative IIoT solutions for industries worldwide. Specializing in engineering, manufacturing, and client services, the BlackPearl ecosystem supports the entire product design and development lifecycle from conception to full-scale manufacturing.

The BlackPearl team of skilled electrical, mechanical, software, and firmware engineers is dedicated to bringing innovative ideas to life. By leveraging the latest technology, BlackPearl develops reliable solutions that solve problems and enhance operational processes. All design and development work is conducted in North America.

Media Contact

Stephanie Chavez, BlackPearl Technology, 1 (817)262-8168, schavez@blackpearltechnology.com, https://blackpearltechnology.com/ 

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SOURCE BlackPearl Technology

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MEGAROBO Unveils High-Content Cell Imaging System for Advanced Multidimensional Biological Analysis

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November 6, 2024

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BEIJING, Nov. 6, 2024 /PRNewswire/ — MEGAROBO, a leading provider of advanced productivity tools for life sciences, has recently unveiled the CellVue™ T2000 high-content cell imaging system. The new cell imaging system is more than a digital microscope, featuring a high-sensitivity CMOS imaging camera that seamlessly integrates automated multi-color fluorescence imaging with quantitative data analysis. The system enables in-depth exploration of the multi-dimensional characteristics of individual cells in biological samples, serving a wide range of applications, from basic research to drug discovery and preclinical trials. The technology provides scientists with rapid, high-resolution cell imaging and comprehensive, accurate data support.

As the latest breakthrough in life science research tools, MEGAROBO’s proprietary CellVue™ T2000 builds upon the strengths of traditional high-content imaging systems while achieving remarkable strides in imaging speed, configurability, and functional versatility. With unprecedented efficiency, the system meets the urgent need for high-throughput imaging in complex experimental scenarios, enhancing data stability, reliability, and experimental reproducibility. Furthermore, the solution offers extensive upgrade options for cytotoxicity studies, cell painting and 3D sample studies, ensuring optimal configurations that address the specific needs of different research teams.

In addition, the CellVue™ T2000 has been fully incorporated into AutoBio™, the laboratory automation system developed by MEGAROBO. This integration enables a fully automated workflow from cell seeding, passaging and drug delivery to image detection and analysis. 

“Whether examining the fine structure of the cytoskeleton and nucleus or the spatial relationships between functional proteins, the system can deliver high-definition images and precise data,” said Daniel Huang, Founder and CEO of MEGAROBO. “The capability allows researchers to gain deeper insights into cell biology phenomena and mechanisms. With the CellVue™ T2000 as a starting point, MEGAROBO will continue to facilitate technological innovation in the life sciences sector, inspiring deeper exploration into uncharted territories.”

With a global footprint spanning China, the U.S., Europe, and Southeast Asia, MEGAROBO has solidified its position as a leading force in intelligent automation and life sciences innovation worldwide.

About MEGAROBO

Founded in 2016, MEGAROBO is a science and technology company specializing in providing advanced production tools for life sciences, drug discovery, clinical diagnostics and applied chemistry industries. MEGAROBO has closed the Series C financing round, securing long-term support from key investors including WuXi AppTec, Bosch, Sino Biological, Goldman Sachs Asset Management, Asia Investment Capital, Jiyuan Capital, Sinovation Ventures, Joy Capital, MPCi and Pavilion Capital.

View original content:https://www.prnewswire.com/news-releases/megarobo-unveils-high-content-cell-imaging-system-for-advanced-multidimensional-biological-analysis-302297326.html

SOURCE MEGAROBO

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Propel Holdings named one of Canada’s Enterprise-Industry Leaders winners in Deloitte’s Technology Fast 50 program

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November 6, 2024

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TORONTO, Nov. 6, 2024 /CNW/ – Propel Holdings Inc. (“Propel” or the “Company”) (TSX: PRL) was honored as an Enterprise—Industry Leaders award winner as part of Deloitte’s 2024 Technology Fast 50™ program. The award recognizes the fastest-growing enterprise-level technology, media, and telecommunications companies by revenue growth percentage over their last four years of operation. This category is open to companies that recorded a minimum revenue of $10 million in 2020 and $50 million in 2023.

Propel ranked 11th in the Enterprise—Industry Leaders category after its four-year revenue growth percentage of 333%.

Propel’s CEO Clive Kinross, credits Propel’s AI-powered technology and mission of furthering financial inclusion, along with the team’s relentless drive with the company’s success. Kinross said, “Today, we have enabled close to 1.5 million loans and lines of credit to underserved consumers in North America, but we won’t stop there. Backed by our AI-powered technology and the best talent, we have set our eyes on global growth. We are making credit more inclusive, and we are just getting started.”

“The Enterprise—Industry Leaders exemplify the strength and resilience of Canada’s business landscape, showcasing their ability to navigate challenges and drive sustainable growth,” highlighted Anders McKenzie, the National Technology Fast 50 program leader at Deloitte Canada. “As established leaders in their industries, these companies have demonstrated their capacity to innovate, adapt, and transform in a rapidly evolving digital landscape. By embracing emerging technologies, fostering a culture of continuous improvement, and leveraging their extensive resources, these Enterprise –Industry Leaders have positioned themselves as industry leaders, setting new benchmarks for success. Their achievements not only contribute to their own organizational growth but also inspire and shape the future of Canada’s technology sector.”

About the Deloitte Technology Fast 50 program

The Deloitte Technology Fast 50 program is Canada’s pre-eminent technology awards program. It recognizes business growth, innovation, and entrepreneurship in four distinct categories: Technology Fast 50, Enterprise—Industry Leaders, Clean Technology, and Companies-to-Watch. The program also recognizes thriving technology companies in the United States and Canada in partnership with the North American Technology Fast 500 program. Program sponsors for 2024 include RBCx, Osler, EDC, CCI, TMX, Clarity, and Lafond. For more information, visit www.fast50.ca.

About Propel

Propel Holdings (TSX: PRL) is the fintech company building a new world of financial opportunity for consumers, partners, and investors. Propel’s operating brands — Fora Credit, CreditFresh and MoneyKey — and our Lending-as-a-Service product line facilitate access to credit for consumers underserved by traditional financial institutions. Through its AI-powered platform, Propel evaluates customers in a more comprehensive way than traditional credit scores can. The result is better products and an expanded credit market for consumers while creating sustainable, profitable growth for Propel.  Our revolutionary fintech platform has already helped consumers access over one million loans and lines of credit and over one billion dollars in credit. At Propel, we are here to change the way customers, partners and investors succeed together.

Learn more at www.propelholdings.com

(www.foracredit.ca, www.creditfresh.com, www.moneykey.com)

SOURCE Propel Holdings Inc.

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