SunCar Technology Group Inc. announced on February 7, 2025, that its board of directors has authorized a share repurchase program. The company plans to buy back up to $30 million of its outstanding Class A ordinary shares over the next 12 months.
The program reflects management's confidence in SunCar's long-term growth prospects and its commitment to delivering value to shareholders. Repurchases will be funded through a combination of cash on hand and cash generated from operations.
The timing and actual number of shares repurchased will depend on various factors, including regulatory restrictions and market conditions. This initiative aims to minimize the impact of purchases on the stock market while enhancing shareholder value.
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