SRIVARU Holding Limited (SVMH) Company Overview

GRAND CAYMAN, Cayman Islands, Oct. 31, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH, SVMHW) (“SRIVARU” or the “Company”), a manufacturer of premium electric motorcycles, today announced the closing of its previously announced public offering of 106,250,000 units at a public offering price of $0.064 per unit. Each unit consists of one ordinary share and one warrant to purchase one ordinary share, which can be exercisable for two ordinary shares pursuant to an alternative cashless exercise provision. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 15,937,500 ordinary shares and 15,937,500 warrants to cover over-allotments at the public offering price, less the underwriting discount. The warrants will be exercisable on the date of shareholder approval at a price of $0.096 per share and will expire five years from the date of shareholder approval. The ordinary shares and accompanying warrants could only be purchased together in this public offering, but were issued separately and were immediately separable upon issuance. Gross proceeds to the Company, before deducting underwriting commissions and other offering expenses, were approximately $6.8 million.

GRAND CAYMAN, Cayman Islands, Oct. 23, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH, SVMHW) (“SRIVARU” or the “Company”), a manufacturer of premium electric motorcycles, today announced its expansion into the Indian State of Kerala with the launch of its PRANA 2.0 electric motorcycle through a new joint dealership with Electrogreen Motors in Thiruvananthapuram, Kerala's capital.

GRAND CAYMAN, Caman Islands, Sept. 26, 2024 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (Nasdaq: SVMH, SVMHW) (“SRIVARU” or the “Company”), a manufacturer of premium electric motorcycles, announced today that it has successfully obtained certification from India's Central Motor Vehicles Rules (CMVR) agency for PRANA 2.0 models, which include the PRANA Grand and PRANA Elite. This regulatory approval marks a significant achievement in SRIVARU's mission to deliver innovative, eco-friendly transportation solutions to the rapidly expanding electric two-wheel vehicle market in India.