<p>2025 年 2 月 21 日- 下午 03:28</p>
<p>开曼群岛大开曼，2025 年 2 月 21 日（GLOBE NEWSWIRE）-- SRIVARU Holding Limited（OTC: SVUHF）（“SRIVARU” 或 “公司”）已获悉，Sabby Volatility Warrant Master Fund Ltd.（“Sabby”）在纽约州最高法院对公司提出了法律诉讼，索引号为 650870/2025。公司致力于透明度、合规性，并在为自己辩护的同时保护股东价值。</p>
<p>背景与 Sabby 的投资立场</p>
<p>-2024 年 10 月 31 日，Sabby 购买了 16,800,000 个单位，每个单位由一股普通股和一份认股权证组成。</p>
<ul>
<li>这些认股权证包括无现金转换条款，允许持有人在行使时每份认股权证获得两股股票。</li>
<li>Sabby 的索赔基于与公司记录和披露的方法论不同的认股权证行使计算，该方法将行使价格定为每股 0.096 美元，尽管替代条款实际上消除了转换成本，使得真实的行使价格为 0。</li>
<li>在股票合并/反向拆分事件之前，Sabby 行使了 13,180,839 份认股权证，获得了 26,361,678 股，根据电子邮件确认，Sabby 在 2025 年 1 月 16 日时剩余 3,619,161 份认股权证。由于公司必须进行 50:1 的反向拆分以将股价提高到 1 美元以上，这 3,619,161 份认股权证在合并前将有资格获得 7,238,322 股股票（或 7238322/50=144,766 股）在合并后基础上。</li>
<li>根据 Sabby 的电子邮件，Sabby 在反向拆分前剩余 3,619,161 份认股权证，公司计算得出相当于 72,383 份认股权证（反向拆分前的认股权证/反向拆分比例，即 3,619,161/50=72,383），可无现金转换为 144,766 股。
然而，Sabby 现在声称他们应该获得 989,576 股合并后股票，代表约 583% 的增长，公司对此提出异议，基于无现金行使价格。
Sabby 声称 “Sabby 有权根据认股权证第 2(d) 条计算的违约金，以及根据认股权证第 5(e) 条的律师费。Sabby 估计违约金约为 350,000 美元，并将以每周约 120,000 美元的速度累积，直到股票交付。根据认股权证，Sabby 还有权获得总计约 850,000 美元的损害赔偿，基于 SVMH 未能在相关时间交付的 SVMH 股票的价值。</li>
</ul>
<ul>
<li>在发行过程中，公司向承销商及其团队披露了所有授权股份和授权资本。Sabby 或承销商从未提及需要增加授权资本，也未对剩余授权资本不足以满足需求表示任何担忧。因此，公司从未打算修改授权资本，自发行以来保持不变。</li>
<li>Sabby 在 2025 年 1 月 15 日至 1 月 18 日期间的额外认股权证和股票请求时间内进行了预售股票。在 2025 年 1 月 20 日，Sabby 的法律顾问发来的电子邮件中，Sabby 明确承认其已提前出售股票，并要求 SVMH 交付股票以覆盖其交易活动，使公司面临无限买入保护风险。</li>
</ul>
<p>公司的回应和法律行动</p>
<p>SVMH 正在积极：</p>
<ul>
<li>为自己辩护并评估所有法律救济。电动两轮车在公司运营国家的实际业务正在增长；公司打算执行其运营计划，从而为股东创造长期价值。
公司在相关期间观察到股票价格的波动性，并正在评估对认股权证行使和投资者情绪的潜在影响。Sabby 的认股权证行使和卖空行为对 SVMH 的股票施加了下行压力，加剧了市场扭曲。</li>
</ul>
<ul>
<li>确保遵守合同义务，同时保护股东价值。</li>
<li>与法律和监管顾问进行沟通，以解决股东的担忧。</li>
</ul>
<p><strong>前瞻性声明</strong></p>
<p>本通讯可能包含根据 1995 年《私人证券诉讼改革法》定义的多项 “前瞻性声明”。除历史事实声明外的所有声明均为前瞻性声明。这些前瞻性声明基于 SRIVARU 管理层当前的期望、估计、预测和信念，以及对未来事件的一系列假设。当在本通讯中使用时，词语 “估计”、“预测”、“期望”、“预期”、“预测”、“计划”、“打算”、“相信”、“寻求”、“可能”、“将”、“应该”、“未来”、“提议”、“承诺” 及这些词或类似表达的变体（或这些词或表达的否定版本）旨在识别前瞻性声明。</p>
<p>本披露包含关于正在进行的法律程序的前瞻性声明。实际结果可能因法院裁决、监管行动或股东决策而有所不同。这些前瞻性声明并不保证未来的表现、状况或结果，并涉及许多已知和未知的风险、不确定性、假设及其他重要因素，其中许多因素超出了 SRIVARU 管理层的控制，这可能导致实际结果与前瞻性声明中讨论的结果存在重大差异。这些风险、不确定性、假设及其他重要因素包括但不限于：(a) 无法获得融资以完成 SRIVARU 计划的扩展；(b) 无法成功上诉纳斯达克的退市决定；(c) 与持续运营相关的成本；(d) SRIVARU 可能受到其他经济、商业和/或竞争因素的不利影响；(e) SRIVARU 执行其商业计划和战略的能力；(f) SRIVARU 对费用和盈利能力的估计；以及 (g) SRIVARU 在向 SEC 提交的公开文件中不时指出的其他风险和不确定性，包括其中的 “风险因素”。请注意，不要对任何前瞻性声明过度依赖，这些声明仅在作出时有效。</p>
<p>这些前瞻性声明仅在本新闻稿发布之日有效，除非适用法律要求，SRIVARU 不承担更新或修订这些声明的义务，无论是由于任何新信息、未来事件和发展还是其他原因。</p>
<p>前瞻性声明仅在作出时有效。读者被提醒不要对前瞻性声明过度依赖，SRIVARU 不承担任何义务，除法律要求外，也不打算更新或修订这些前瞻性声明，无论是由于新信息、未来事件还是其他原因。SRIVARU 不保证其将实现预期。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RNMk1qYzFNeU0yTnpZek1UTXdJekl5T0RVNE5URT0?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RNMk1qYzFNeU0yTnpZek1UTXdJekl5T0RVNE5URT0"/></p>
<p><img src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/Yzc0MmI1ZTktMjlmZS00ODVlLTlmNGMtMmJkOGQ0YzdmMjViLTEyOTc0MDE=/tiny/SRIVARU-Holding.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/Yzc0MmI1ZTktMjlmZS00ODVlLTlmNGMtMmJkOGQ0YzdmMjViLTEyOTc0MDE=/tiny/SRIVARU-Holding.png"/></p>

SVUHF

SVMH

<p>SRIVARU Holding Limited 正在面临来自 Sabby Volatility Warrant Master Fund Ltd. 在纽约提出的法律索赔，涉及对权证行使计算的争议。Sabby 声称有权获得约 350,000 美元的违约金以及因声称的股票交付失败而导致的额外损害赔偿，总计约 850,000 美元。该公司致力于为自己辩护，并确保合规，同时在股票价格波动和 Sabby 行为导致的市场扭曲中保护股东价值。SRIVARU 正在评估法律救济措施，并与顾问进行沟通，以解决股东的担忧</p>

<p>02/21/2025 - 03:28 PM</p>
<div class="lb-trans"><p>2025 年 2 月 21 日- 下午 03:28</p>
</div><p>GRAND CAYMAN, Cayman Islands, Feb. 21, 2025 (GLOBE NEWSWIRE) -- SRIVARU Holding Limited (OTC: SVUHF) (“SRIVARU” or the “Company”), has been made aware of a legal claim against the Company by Sabby Volatility Warrant Master Fund Ltd. (“Sabby”) in the Supreme Court of the State of New York, Index No. 650870/2025. The Company is committed to transparency, compliance, and protecting shareholder value while it defends itself against this claim.</p>
<div class="lb-trans"><p>开曼群岛大开曼，2025 年 2 月 21 日（GLOBE NEWSWIRE）-- SRIVARU Holding Limited（OTC: SVUHF）（“SRIVARU” 或 “公司”）已获悉，Sabby Volatility Warrant Master Fund Ltd.（“Sabby”）在纽约州最高法院对公司提出了法律诉讼，索引号为 650870/2025。公司致力于透明度、合规性，并在为自己辩护的同时保护股东价值。</p>
</div><p>Background &amp; Sabby’s Investment Position</p>
<div class="lb-trans"><p>背景与 Sabby 的投资立场</p>
</div><ul>
<li>On October 31, 2024, Sabby purchased 16,800,000 units, each consisting of one common share and one warrant.</li>
<li>The warrants included a cashless conversion provision, allowing holders to receive two shares per warrant upon exercise.</li>
<li>Sabby’s claim is based on a warrant exercise calculation that differs from the Company’s documented and disclosed methodology, which values the exercise at $0.096 per share, despite the fact that the alternative provision effectively eliminated the cost of conversion, making the true exercise price $0.</li>
<li>Prior to share combination/share reversesplit event SABBY exercised 13,180,839 for 26,361,678 and as per the email confirmation SABBY left with 3,619,161 warrants as of January 16 2025. As company had to reverse split (share combination) of 50:1 to bring share price well about $1. These 3,619,161 warrants would have been eligible for 7238322 shares on pre-share combination basis or (7238322/50=144,766 shares) 144,766 post share combination basis.</li>
<li>As indicated in email by Sabby, Sabby had 3,619,161 warrants remaining before reversesplit, which the Company calculated to equate to 72,383 warrants (before reversesplit warrant / reversesplit ratio that is 3,619,161/50= 72,383) which is convertible on cashless basis for 144,766.
However, Sabby now claims they should have received 989,576 post-split shares, representing approximately
583% increase which company disputes based on the cashless exercise price.
SABBY claims that “Sabby is entitled to liquidated damages computed in accordance with Section 2(d) of the Warrants, and attorneys’ fees pursuant to section 5(e) of the Warrants. Sabby estimates that the liquidated damages are approximately
$350,000 and will accrue at approximately $120,000 per week until shares are delivered. Pursuant to the Warrants, Sabby is also entitled to damages in the aggregate amount of approximately $850,000 based on the value of the SVMH shares that SVMH failed to deliver at the relevant time.”</li>
</ul>
<div class="lb-trans"><p>-2024 年 10 月 31 日，Sabby 购买了 16,800,000 个单位，每个单位由一股普通股和一份认股权证组成。</p>
<ul>
<li>这些认股权证包括无现金转换条款，允许持有人在行使时每份认股权证获得两股股票。</li>
<li>Sabby 的索赔基于与公司记录和披露的方法论不同的认股权证行使计算，该方法将行使价格定为每股 0.096 美元，尽管替代条款实际上消除了转换成本，使得真实的行使价格为 0。</li>
<li>在股票合并/反向拆分事件之前，Sabby 行使了 13,180,839 份认股权证，获得了 26,361,678 股，根据电子邮件确认，Sabby 在 2025 年 1 月 16 日时剩余 3,619,161 份认股权证。由于公司必须进行 50:1 的反向拆分以将股价提高到 1 美元以上，这 3,619,161 份认股权证在合并前将有资格获得 7,238,322 股股票（或 7238322/50=144,766 股）在合并后基础上。</li>
<li>根据 Sabby 的电子邮件，Sabby 在反向拆分前剩余 3,619,161 份认股权证，公司计算得出相当于 72,383 份认股权证（反向拆分前的认股权证/反向拆分比例，即 3,619,161/50=72,383），可无现金转换为 144,766 股。
然而，Sabby 现在声称他们应该获得 989,576 股合并后股票，代表约 583% 的增长，公司对此提出异议，基于无现金行使价格。
Sabby 声称 “Sabby 有权根据认股权证第 2(d) 条计算的违约金，以及根据认股权证第 5(e) 条的律师费。Sabby 估计违约金约为 350,000 美元，并将以每周约 120,000 美元的速度累积，直到股票交付。根据认股权证，Sabby 还有权获得总计约 850,000 美元的损害赔偿，基于 SVMH 未能在相关时间交付的 SVMH 股票的价值。</li>
</ul>
</div><ul>
<li>During the offering process, company disclosed all the authorized shares and authorized capitol to underwriter and their team. SABBY or underwriters never mentioned about needing to increase the authorized capital nor raised any concern about remaining authorized capitol being insufficient to meet the need. Therefore Company never intended to modify the authorized capitol and it remained the same since the offering.</li>
<li>Sabby engaged in pre-selling stock during the additional warrant and shares requested timeframe between Jan 15 - Jan 18, 2025. In an email from Sabby’s counsel on January 20, 2025, Sabby explicitly acknowledged that it had already sold shares in advance and required SVMH to deliver shares to cover its trading activity, exposing the Company to unlimited buy-in protection risks.</li>
</ul>
<div class="lb-trans"><ul>
<li>在发行过程中，公司向承销商及其团队披露了所有授权股份和授权资本。Sabby 或承销商从未提及需要增加授权资本，也未对剩余授权资本不足以满足需求表示任何担忧。因此，公司从未打算修改授权资本，自发行以来保持不变。</li>
<li>Sabby 在 2025 年 1 月 15 日至 1 月 18 日期间的额外认股权证和股票请求时间内进行了预售股票。在 2025 年 1 月 20 日，Sabby 的法律顾问发来的电子邮件中，Sabby 明确承认其已提前出售股票，并要求 SVMH 交付股票以覆盖其交易活动，使公司面临无限买入保护风险。</li>
</ul>
</div><p>Company’s Response and Legal Action</p>
<div class="lb-trans"><p>公司的回应和法律行动</p>
</div><p>SVMH is actively:</p>
<div class="lb-trans"><p>SVMH 正在积极：</p>
</div><ul>
<li>Defending itself against the lawsuit and evaluating all legal remedies. Actual business of Electric two wheeler mobility in companies operating country is growing; company intend to execute its operation plan thus building longterm value for shareholders.
The Company has observed stock price volume volatility during the relevant period and is assessing the potential impact on warrant exercises and investor sentiment. Sabby’s warrant exercises and short-selling created downward pressure on SVMH’s stock, amplifying market distortions.</li>
</ul>
<div class="lb-trans"><ul>
<li>为自己辩护并评估所有法律救济。电动两轮车在公司运营国家的实际业务正在增长；公司打算执行其运营计划，从而为股东创造长期价值。
公司在相关期间观察到股票价格的波动性，并正在评估对认股权证行使和投资者情绪的潜在影响。Sabby 的认股权证行使和卖空行为对 SVMH 的股票施加了下行压力，加剧了市场扭曲。</li>
</ul>
</div><ul>
<li>Ensuring compliance with contractual obligations while protecting shareholder value.</li>
<li>Engaging with legal and regulatory advisors to address shareholder concerns.</li>
</ul>
<div class="lb-trans"><ul>
<li>确保遵守合同义务，同时保护股东价值。</li>
<li>与法律和监管顾问进行沟通，以解决股东的担忧。</li>
</ul>
</div><p><strong>Forward Looking Statements</strong></p>
<div class="lb-trans"><p><strong>前瞻性声明</strong></p>
</div><p>This communication may contain a number of “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. These forward-looking statements are based on SRIVARU’s management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events. When used in this communication, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” “promises “ and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements.</p>
<div class="lb-trans"><p>本通讯可能包含根据 1995 年《私人证券诉讼改革法》定义的多项 “前瞻性声明”。除历史事实声明外的所有声明均为前瞻性声明。这些前瞻性声明基于 SRIVARU 管理层当前的期望、估计、预测和信念，以及对未来事件的一系列假设。当在本通讯中使用时，词语 “估计”、“预测”、“期望”、“预期”、“预测”、“计划”、“打算”、“相信”、“寻求”、“可能”、“将”、“应该”、“未来”、“提议”、“承诺” 及这些词或类似表达的变体（或这些词或表达的否定版本）旨在识别前瞻性声明。</p>
</div><p>This disclosure contains forward-looking statements regarding ongoing legal proceedings. Actual outcomes may differ due to court rulings, regulatory actions, or shareholder decisions. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside SRIVARU’s management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (a) the inability to obtain financing to complete SRIVARU’s planned expansion; (b) the inability to successfully appeal the Nasdaq’s delisting determinations; (c) costs related to ongoing operations; (d) the possibility that SRIVARU may be adversely affected by other economic, business, and/or competitive factors; (e) SRIVARU’s ability to execute its business plans and strategies, (f) SRIVARU’s estimates of expenses and profitability; and (g) other risks and uncertainties indicated from time to time in SRIVARU’s public filings with the SEC, including those under “Risk Factors” therein. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.</p>
<div class="lb-trans"><p>本披露包含关于正在进行的法律程序的前瞻性声明。实际结果可能因法院裁决、监管行动或股东决策而有所不同。这些前瞻性声明并不保证未来的表现、状况或结果，并涉及许多已知和未知的风险、不确定性、假设及其他重要因素，其中许多因素超出了 SRIVARU 管理层的控制，这可能导致实际结果与前瞻性声明中讨论的结果存在重大差异。这些风险、不确定性、假设及其他重要因素包括但不限于：(a) 无法获得融资以完成 SRIVARU 计划的扩展；(b) 无法成功上诉纳斯达克的退市决定；(c) 与持续运营相关的成本；(d) SRIVARU 可能受到其他经济、商业和/或竞争因素的不利影响；(e) SRIVARU 执行其商业计划和战略的能力；(f) SRIVARU 对费用和盈利能力的估计；以及 (g) SRIVARU 在向 SEC 提交的公开文件中不时指出的其他风险和不确定性，包括其中的 “风险因素”。请注意，不要对任何前瞻性声明过度依赖，这些声明仅在作出时有效。</p>
</div><p>These forward-looking statements speak only as of the date of this press release and, except to the extent required by applicable law, SRIVARU undertakes no obligation to update or revise these statements, whether as a result of any new information, future events and developments or otherwise.</p>
<div class="lb-trans"><p>这些前瞻性声明仅在本新闻稿发布之日有效，除非适用法律要求，SRIVARU 不承担更新或修订这些声明的义务，无论是由于任何新信息、未来事件和发展还是其他原因。</p>
</div><p>Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and SRIVARU assumes no obligation and, except as required by law, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. SRIVARU gives no assurance that it will achieve its expectations.</p>
<div class="lb-trans"><p>前瞻性声明仅在作出时有效。读者被提醒不要对前瞻性声明过度依赖，SRIVARU 不承担任何义务，除法律要求外，也不打算更新或修订这些前瞻性声明，无论是由于新信息、未来事件还是其他原因。SRIVARU 不保证其将实现预期。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RNMk1qYzFNeU0yTnpZek1UTXdJekl5T0RVNE5URT0" alt="" original-src="https://www.globenewswire.com/newsroom/ti?nf=OTM2Mjc1MyM2NzYzMTMwIzIyODU4NTE="/></p>
<p><img src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/Yzc0MmI1ZTktMjlmZS00ODVlLTlmNGMtMmJkOGQ0YzdmMjViLTEyOTc0MDE=/tiny/SRIVARU-Holding.png" alt="" original-src="https://ml.globenewswire.com/media/Yzc0MmI1ZTktMjlmZS00ODVlLTlmNGMtMmJkOGQ0YzdmMjViLTEyOTc0MDE=/tiny/SRIVARU-Holding.png"/></p>

SRIVARU Holding Limited 提供了 Sabby Volatility Warrant Master Fund Ltd. 提出的法律索赔的最新情况 | SVMH 股票新闻