Company: SDAWW
Filing Date: 2025-02-04
Form Type: 6-K
Source: 0001213900-25-010076
Chunk: 20

Company: SunCar Technology Group Inc.
Filing Date: 2025-02-04
Form: 6-K
Chunk 20
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 to the expected term of the options.

| (3) | Risk-free interest rate |

Risk-free interest rate was estimated
based on the daily treasury long term rate of the U.S. Treasury Department with a maturity period close to the expected term of the warrants.

| (4) | Dividend yield |

The dividend yield was estimated by
the Group based on its expected dividend policy over the expected term of the warrants.

|                                                |     | Warrants |            |     | Weighted 
 Average  
 Exercise 
 Price    |       |
|:-----------------------------------------------|:----|:---------|-----------:|:----|:---------|------:|
| Warrants outstanding, as of December 31, 2023  |     |          | 12,431,674 |     | $        | 10.72 |
| Issued                                         |     |          |          - |     |          |     - |
| Exercised                                      |     |          |          - |     |          |     - |
| Expired                                        |     |          |          - |     |          |     - |
| Warrants outstanding, as of September 30, 2024 |     |          | 12,431,674 |     | $        | 10.72 |
| Warrants exercisable, as of September 30, 2024 |     |          | 12,431,674 |     | $        | 10.72 |

As of September 30, 2024, the Company had
warrants outstanding to purchase Class A Ordinary Shares with weighted average exercise price of $ per share and remaining
contractual lives of years.

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 Group’s revenue equals or exceeds $352,000,000 for the fiscal year ending December 31, 2023, as reflected on the audited consolidated financial statements of the Company as of and for the fiscal year ended December 31,