SRIVARU Holding (SVMH) Files for 116.28M Unit Offering

SRIVARU Holding (NASDAQ: SVMH) has filed the following:

This is a firm commitment public offering of 116,279,070 units (“Units”), each Unit consisting of one ordinary share, par value $0.01 per share (“ordinary share”) or one pre-funded warrant (“pre-funded warrant”), and one warrant (“warrant”) to purchase one ordinary share (collectively “the Securities”) at an assumed public offering price of $0.086 per Unit, which was the closing price of our ordinary shares on the Nasdaq Global Market (“Nasdaq”) on September 25, 2024. The public offering price per Unit shall be the determined between us and the underwriters and will be based on market conditions at the time of pricing, and may be at a discount to the then current market price of our ordinary shares. Therefore, the recent market price of our ordinary shares referenced throughout this preliminary prospectus may not be indicative of the final offering price per Unit. The Units have no stand-alone rights and will not be certified or issued as stand-alone securities. The ordinary shares or pre-funded warrants and warrants are immediately separable and will be issued separately in this offering. Each warrant will be immediately exercisable for one ordinary share at an assumed exercise price of $0.086 per share (100% of the assumed public offering price per Unit) and will expire five years from the date of issuance.

We are offering to each purchaser, with respect to the purchase of units that would otherwise result in the purchaser’s beneficial ownership exceeding 4.99% of our outstanding ordinary shares immediately following the consummation of this offering, the opportunity to purchase units including one pre-funded warrant in lieu of one ordinary share in the unit. Subject to limited exceptions, a holder of pre-funded warrants will not have the right to exercise any portion of its pre-funded warrants if the holder, together with its affiliates, would beneficially own in excess of 4.99% (or, at the election of the holder, such limit may be increased to up to 9.99%) of the number of ordinary shares outstanding immediately after giving effect to such exercise. Each pre-funded warrant will be exercisable for one ordinary share. The purchase price of each unit including a pre-funded warrant will be equal to the price per unit including one ordinary share, minus $0.001, and the remaining exercise price of each pre-funded warrant will equal $0.001 per share. The pre-funded warrants will be immediately exercisable and may be exercised at any time until all of the pre-funded warrants are exercised in full. For each unit including a pre-funded warrant we sell (without regard to any limitation on exercise set forth therein), the number of units including an ordinary share we are offering will be decreased on a one-for-one basis.

We have granted the underwriters the option for a period of 45 days to purchase up to an additional 17,441,860 shares of our common stock from us at the initial public offering price less the underwriting discounts and commissions.

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