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SunCar Technology Group Announces Share Repurchase Program

  • SunCar Technology Group Inc. (NASDAQ: SDA) authorized a share repurchase program to buy back up to $10 million of Class A ordinary shares.
  • The program is expected to last for the next three months & reflects the Company's confidence in its long-term growth prospects.
  • Repurchases will be funded through a combination of cash on hand & cash generated from operations.
  • Shares may be bought on the open market or in privately negotiated transactions in accordance with applicable federal securities laws.
  • The timing & volume of repurchases will depend on market conditions, regulatory restrictions, & efforts to minimize market impact.
  • Founded in 2007, SunCar operates as a leader in China's auto eInsurance market for electric vehicles & the B2B auto services market.
  • The Company's cloud-based platform connects drivers with auto services & insurance options through a nationwide network of sales partners.
  • The press release includes forward-looking statements regarding AI-powered services, SaaS solutions, & potential cost reductions subject to various risks.
Company
SunCar Technology Group Inc.
Keywords
Nasdaq:SDA, SunCar Technology Group Inc., SunCar Technology