Zapp Electric Vehicles Group (ZAPP) Registration Filing summary

Company overview and business model

• Focuses on design-led electric personal urban mobility, launching with the i300 electric urban motorcycle targeting premium urban commuters.

• Employs an asset-light, capital-efficient model via contract manufacturing with Summit in Thailand, enabling scalable production up to 300,000 units by 2026.

• Differentiates through proprietary exoskeleton architecture, premium components, and portable battery packs that eliminate reliance on dedicated charging infrastructure.

• Utilizes a drop-ship-direct-to-customer (DSDTC) model and omnichannel sales, including online configurators and authorized resellers.

• Emphasizes sustainability, using recyclable materials and green manufacturing processes.

Financial performance and metrics

• Reported net losses of $222.1 million for the year ended September 30, 2023, and $5.0 million for the six months ended March 31, 2024.

• Operating losses were $7.8 million for FY2023 and $3.1 million for the six months ended March 31, 2024.

• Cash and cash equivalents were $485,000 as of March 31, 2024, with trade and other payables of $20.7 million.

• No revenue from vehicle sales as of March 31, 2024; first customer deliveries expected in the fourth quarter of fiscal 2024.

• Significant expenses in 2023 related to the business combination and fair value losses on financial instruments.

Use of proceeds and capital allocation

• Proceeds from the New SEPA with Yorkville, up to $50 million, are intended for general corporate purposes.

• Received $1.0 million from the first tranche of the Pre-Paid Advance, with additional tranches of $1.0 million and $2.0 million expected upon prospectus filing and registration effectiveness.

• Management has broad discretion over the use of proceeds, which may include uses not specifically identified.