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

Company: SunCar Technology Group Inc.
Filing Date: 2025-10-27
Form: 6-K
Chunk 25
---
 84.6% of Shengda Automobile. The Group derecognized non-controlling interest of $ 1,294, and the difference between the purchase price and the carrying amount of the proportional net assets that acquired from non-controlling shareholders was charged against additional paid-in capital, which was $ 920.

Issuance of ordinary shares

On February 5, 2025, the Group entered into an underwriting agreement with BTIG, LLC as the representative of the underwriters named therein, to issue and sell 7,142,858Class A ordinary shares for total expected gross proceeds of approximately $ 50million before underwriting discounts and commissions and offering expenses. The issuance was completed on February 7, 2025, the proceeds from issuance of ordinary shares, net of offering costs, amounted to approximately $ 41.6million.

Shares Repurchase from public market

On February 7, 2025, the Group announced that its board of directors has authorized a share repurchase program (the “Share Repurchase Program”) to buy back up to $ 30million of its outstanding Class A ordinary shares.

The following table sets forth repurchase activity under the Share Repurchase Program from inception through June 30, 2025:

| Periods               
 February 2025:        |     | Total number of Class A Ordinary shares purchased |           |     | Average price paid per 
 Class A Ordinary share |      |
|:----------------------|:----|:--------------------------------------------------|----------:|:----|:-----------------------|-----:|
| Open market purchases |     |                                                   | 1,644,809 |     | $                      | 4.99 |
| March 2025:           |     |                                                   |           |     |                        |      |
| Open market purchases |     |                                                   | 1,160,258 |     | $                      | 4.80 |
| April 2025:           |     |                                                   |           |     |                        |      |
| Open market purchases |     |                                                   |   586,036 |     |                        | 3.17 |
| May 2025:             |     |                                                   |           |     |                        |      |
| Open market purchases |     |                                                   |    47,454 |     |                        | 2.74 |
|                       |     |                                                   | 3,438,557 |     |                        |      |

F-24 SUNCAR TECHNOLOGY GROUP INC NOTES TO UN