Company: SDAWW
Filing Date: 2025-12-22
Form Type: 6-K
Source: 0001213900-25-124170
Chunk: 22

Company: SunCar Technology Group Inc.
Filing Date: 2025-12-22
Form: 6-K
Chunk 22
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arrants are recognized as warrant liabilities on Consolidated Balance Sheet at fair value, with subsequent changes in fair value recognized in the Consolidated Statement of Operations and Comprehensive Loss at each reporting date until exercised. Warrant issued in the Follow-on Offering As part of the Follow-on Offering, the Company agreed to issue to the Institutional Investors certain common warrants (“Common Warrants”) for the purchase of up to 3,850,857Ordinary Shares at an exercise price of $ 9.00per share. The Warrants are exercisable immediately after October 30, 2023, the date of issuance and will have a term of five years therefrom. F-20 SUNCAR TECHNOLOGY GROUP INC NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (In U.S. Dollar thousands, except share and per share data)

The Company also entered into Placement Agency
Agreement dated October 26, 2023 (the “Placement Agency Agreement”) with FT Global Capital, Inc., to act as exclusive placement
agent in connection with the Follow-on Offering (the “Placement Agent”). The Company agreed to pay the Placement Agent a cash
fee equal to % of the gross proceeds raised in the Follow-on Offering. In addition, the Company agreed to issue to the Placement Agent
warrants (“PA Warrants”) to purchase a number of Ordinary Shares equal to % of the aggregate number of Ordinary Shares sold
in the Follow-on Offering, at an exercise price equal to $ per share. The number of PA Warrants issued to FT Global Capital, Inc
was .

The Common Warrants and PA Warrants met the criteria
for equity classification. The fair value of the Common Warrants and PA Warrants were of $, valued based on the Black-Scholes-Merton
model and is recorded as additional paid-in capital from common stock on the relative fair value of net proceeds received.

The table summarizes the assumptions of the initial
fair value of warrants under Black-Scholes-Merton model:

|                          |     | GEM      
 Warrants |       |   |     | Public   
 Warrants 
 and      
 Private  
 Warrants |       |   |     | Common   
 Warrants |       |   |     | PA       
 Warrants |       |   |
| Expected term (in years) |     |          |     3 |   |     |          |     5 |   |     |          |     5 |   |     |          |     5 |   |