SRIVARU Holding Limited announced it has entered into a purchase agreement to issue ordinary shares for gross proceeds $25,000,000 on July 1, 2024. The transaction includes participation from new investor, Ionic Ventures, LLC. The Purchase Agreement may be terminated by us if certain conditions to commence have not been satisfied by July 31, 2024.

The Company must pay Maxim a cash fee equal to 5% of the aggregate gross proceeds raised from the sale of Purchase Shares in connection with any Exemption Purchase Notice; and a cash fee equal to 3% of the aggregate gross proceeds raised from the sale of Purchase Shares in connection with any Regular Purchase Notice. The Company must also reimburse Maxim, directly upon the initial closing under the Purchase Agreement for all travel and other documented out-of-pocket expenses incurred by Maxim, including the reasonable fees, costs and disbursements of its legal counsel, in an amount not to exceed an aggregate of $5,000.