Zapp Electric Vehicles Group (ZAPP) Registration Filing summary

Company overview and business model

• Focuses on revolutionizing personal urban mobility with a British electric vehicle brand, initially targeting the electric urban motorcycle segment with the i300 model, designed for high performance and urban practicality.

• Employs an asset-light, capital-efficient manufacturing model and aims to deliver a premium customer experience throughout the purchase and ownership journey.

• Seeks to capture share in the global powered two-wheel (P2W) market, valued at $114 billion in 2023, with expectations for electric P2W growth to outpace internal combustion engine models.

• Incorporated in the Cayman Islands, with principal executive offices in Bangkok, Thailand, and listed on the Nasdaq Capital Market.

Financial performance and metrics

• As of January 6, 2025, the market value of outstanding ordinary shares held by non-affiliates was approximately $9.3 million, based on 7,866,779 shares outstanding and a closing price of $1.43 per share.

• Net tangible book value as of September 30, 2024, was approximately $(23.9) million, or $(4.85) per share; after the offering, adjusted net tangible book value would be $(2.44) per share, with immediate dilution of $3.25 per share to new investors at an assumed offering price of $0.81.

Use of proceeds and capital allocation

• Net proceeds from securities sales are intended for general corporate purposes, with specific allocations to be determined at the time of each offering.

• Proceeds from the $3 million at-the-market (ATM) offering will also be used for general corporate purposes, with management retaining broad discretion over timing and application.