Company: SDAWW
Filing Date: 2025-10-27
Form Type: 6-K
Source: 0001213900-25-102611
Chunk: 22

Company: SunCar Technology Group Inc.
Filing Date: 2025-10-27
Form: 6-K
Chunk 22
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 on its expected dividend policy over the expected term of the warrants.

F-21 SUNCAR TECHNOLOGY GROUP INC NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (In U.S. Dollar thousands, except share and per share data)

The table summarizes the status of warrants outstanding and exercisable as of June 30, 2025:

|                                               |     | Warrants |            |     | Weighted 
 Average  
 Exercise 
 Price    |       |
|:----------------------------------------------|:----|:---------|-----------:|:----|:---------|------:|
| Warrants outstanding, as of December 31, 2024 |     |          | 12,431,674 |     | $        | 10.72 |
| Warrants exercisable, as of December 31, 2024 |     |          | 12,431,674 |     | $        | 10.72 |
| Issued                                        |     |          |          - |     |          |     - |
| Exercised                                     |     |          |          - |     |          |     - |
| Expired                                       |     |          |          - |     |          |     - |
| Warrants outstanding, as of June 30, 2025     |     |          | 12,431,674 |     | $        | 10.72 |
| Warrants exercisable, as of June 30, 2025     |     |          | 12,431,674 |     | $        | 10.72 |

As of June 30, 2025, the Company had 12,431,674warrants outstanding to purchase 9,574,077Class A Ordinary Shares with weighted average exercise price of $ 10.72per share and remaining contractual lives of 2.56years.

| 11. | SHARE-BASED  
 COMPENSATION |

Earnout Shares

The consideration for the Business Combination included earnout share to the management as follows (“Earnout Shares”):

| (1) | 1,600,000 Class A Ordinary Shares if the Group’s revenue equals or exceeds $258,000 for the fiscal year ending December 31, 2022, as reflected on the audited consolidated financial statements of the Company as of and for the fiscal year ended December 31, 2022; |

| (2) | 1,600,000 Class A Ordinary Shares if the