Company: SDAWW
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036086
Chunk: 149

Company: SunCar Technology Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 10
Chunk 149
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ITEM 10. ADDITIONAL INFORMATION

A. Share Capital

The
Company is authorized to issue an unlimited number of Ordinary Shares of $0.0001 par value per share, divided into two classes as follows:
Class A Ordinary Shares and Class B Ordinary Shares.

As
of December 31, 2024, there were 51,845,493 Class A Ordinary Shares outstanding and issued and 46,659,565 Class B Ordinary Shares outstanding
and issued. 5,365,194 public warrants were outstanding, and the holder of each such warrant is entitled to purchase one-half (1/2) of
one Class A Ordinary Share at an exercise price of $11.50 per full share. 350,000 private placement warrants were outstanding, and the
holder of each such warrant is entitled to purchase one-half (1/2) of one Class A Ordinary Share at an exercise price of $11.50 per full
share.

B. Memorandum and Articles of Association

The following description
of the Second Amended and Restated Memorandum and Articles of Association of the Company (the “ Memorandum and Articles of Association”)
is qualified in its entirety by the Memorandum and Articles of Association which are included as Exhibit 1.1 to this Report.

SunCar Technology Group Inc.
(“ SunCar”), is a Cayman Islands exempted company and its affairs are governed by the memorandum and articles of association,
as amended and restated from time to time, and Companies Act (As Revised) of the Cayman Islands, which we refer to as the “ Companies
Act” below, and the common law of the Cayman Islands.

General. The
authorized share capital of SunCar is $50,000 divided into 500,000,000 ordinary shares of par value of $0.0001 each, comprising (a) 400,000,000
A Ordinary Shares of par value of US$0.0001 each and (b) 100,000,000 Class B Ordinary Shares of par value of $0.0001 each. Holders of
Class A ordinary shares and Class B ordinary shares have the same rights except for voting and conversion rights. All of SunCar’s
issued and outstanding ordinary shares are fully paid and non-assessable. Certificates representing the ordinary shares are issued in
registered form. SunCar may not issue share to bearer. SunCar’s shareholders who are non-residents of the Cayman Islands may freely
hold and transfer their