Company: SDAWW
Filing Date: 2025-02-06
Form Type: 424B5
Source: 0001213900-25-010989
Chunk: 22

Company: SunCar Technology Group Inc.
Filing Date: 2025-02-06
Form: 424B5
Chunk 22
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 not take advantage of the extended transition period is irrevocable. We previously elected to avail ourself of the extended transition period, and following the consummation of the Business Combination, we are an emerging growth company at least until December 31, 2023 and are taking advantage of the benefits of the extended transition period emerging growth company status permits. During the extended transition period, it may be difficult or impossible to compare our financial results with the financial results of another public company that complies with public company effective dates for accounting standard updates because of the potential differences in accounting standards used. We will remain an emerging growth company under the JOBS Act until the earliest of (a) December 31, 2025, (b) the last date of our fiscal year in which we have a total annual gross revenue of at least $1.235 billion, (c) the date on which we are deemed to be a “large accelerated filer” under the rules of the SEC with at least $700.0 million of outstanding securities held by non-affiliates or (d) the date on which we have issued more than $1.0 billion in non-convertible debt securities during the previous three years. Implications of Being a Foreign Private Issuer We are a foreign private issuer within the meaning of the rules under the Exchange Act, and as such we are exempt from certain provisions of the securities rules and regulations in the United States that are applicable to U.S. domestic issuers. Moreover, the information we are required to file with or furnish to the SEC will be less extensive and less timely compared to that required to be filed with the SEC by U.S. domestic issuers. In addition, as a company incorporated in the Cayman Islands, we are permitted to adopt certain home country practices in relation to corporate governance matters that differ significantly from the Nasdaq corporate governance listing standards. These practices may afford less protection to shareholders than they would enjoy if we complied fully with the Nasdaq corporate governance listing standards.

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Corporate Information

SunCar is a Cayman Islands exempted company with
operations primarily conducted by its subsidiaries in China.

The chart below summarizes the Company’
corporate structure and identifies its principal subsidiaries, where the entities below the dashed line are organized in PRC under PRC
laws.

The Company’s principal executive offices
are located at Suite 209, No. 656 Lingshi Road, Jing’an District, Shanghai, 200072, People