SunCar Technology Group Inc. Announces the Closing of $21 Million Follow-on Offering
- None.
- None.
FT Global Capital, Inc. acted as the exclusive placement agent for the transaction.
Pryor Cashman LLP acted as counsel to the Company and ArentFox Schiff LLP acted as counsel to the placement agent in connection with the offering.
The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.
These securities are being offered through a prospectus contained in the Company's effective registration statement on Form F-1 (Filing No. 333-275144) which was declared effective by the Securities and Exchange Commission (the "SEC") on October 25, 2023. A final prospectus related to the offering has been filed with the SEC and is available for free on the SEC's website at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, and these securities cannot be sold in any state in which this offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Any offer will be made only by means of a prospectus forming a part of the effective registration statement.
About SunCar Technology Group Inc.
Originally founded in 2007, SunCar is transforming the customer journey for car insurance and aftermarket services in
Forward-Looking Statements
This press release contains information about the Company's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. The Company encourages you to review other factors that may affect its future results in the Company's annual reports and in its other filings with the Securities and Exchange Commission.
Contact Information:
SunCar:
Investor Relations: Ms. Hui Jiang
Email: IR@suncartech.com
Legal: Ms. Li Chen
Email: chenli@suncartech.com
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
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SOURCE SunCar Technology Group Inc
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