Earlier May 25, 2023, SunCar Technology Group Inc. Announces A $22M Private Placement Of 2,173,657 Class A Shares With A Certain Non-U.S. Person, Anji Zerun Private Equity Investment Partnership

 SunCar Technology Group Inc., a leading provider of digitalized enterprise automotive after-sales services and online auto insurance intermediation service in China ("SunCar," the "Company"), today announced that it has entered into a Share Subscription Agreement (the "Share Subscription Agreement") with a certain non-U.S. person, Anji Zerun Private Equity Investment Partnership (Limited Partnership) (the "Investor") pursuant to which the Company agreed to sell to the Investor, and the Investor agreed to purchase from the Company, in a private placement 2,173,657 Class A ordinary shares, par value $0.0001 per share, of the Company (the "Purchased Shares"), at the total consideration of US$21,736,569.25 (the "Placement"). The Purchased Shares are subject to a lock-up period of six (6) months. The Company and Investor closed the Placement on May 19, 2023.
 

As previously announced, on May 18, 2023, SunCar closed the business combination with Goldenbridge Acquisition Limited (NASDAQ:GBRG) ("Goldenbridge"), a publicly traded special purpose acquisition company. On Thursday, May 18, 2023, SunCar's Class A ordinary shares and warrants began trading on the Nasdaq under the ticker symbols "SDA" and "SDAWW," respectively.