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SunCar Technology Group ( (SDA) ) has provided an update.
On February 5, 2025, SunCar Technology Group Inc. announced the pricing of a public offering for 7,142,858 Class A ordinary shares, aiming to raise approximately $50 million. The offering closed on February 7, 2025, with BTIG, LLC acting as the lead book-running manager, alongside Macquarie Capital Limited and Oppenheimer & Co. Inc. The proceeds are intended for working capital and general corporate purposes, potentially enhancing SunCar’s market position and operational capabilities in the burgeoning auto services and insurance sectors.
More about SunCar Technology Group
Founded in 2007, SunCar Technology Group Inc. is a leader in cloud-based B2B auto services and auto e-insurance in China, which is the largest passenger vehicle market globally. The company develops and operates platforms that connect drivers with auto services and insurance options, establishing itself as a prominent player in the B2B auto services market and the auto eInsurance market for electric vehicles in China.
YTD Price Performance: -41.73%
Average Trading Volume: 527,976
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $532.7M
Find detailed analytics on SDA stock on TipRanks’ Stock Analysis page.
