SunCar Technology dives on stock offering pricing

Oppenheimer Holdings

06/02/2025 12:38

**  Shares of China-based auto services and insurance
provider SunCar Technology Group  SDA.O  dive 22% premarket to
$6.55, about 11-month low, after follow-on priced
  
    ** Co late Weds  ~7.1 mln shares for $50 mln gross proceeds
for working capital, general purposes
  
    ** O
    ffering price equates to $7, a 17.1% discount to last sale
  
    ** On Weds, SDA shares tumbled 18% to $8.44, a day after co 
offering
  
    
      
      
    
  
    ** Co has 
  
    
      
    
  
    ** BTIG is lead bookrunner for offering, joined by 
  
    
      
    
  

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))