SunCar Tech Shares at 52-Week Low After $50M Offering

Dow Jones

Feb 07, 2025

By Dean Seal

Shares of SunCar Technology Group fell by more than a third after the company's public offering was priced to raise $50 million in gross proceeds.

The stock dropped as much as 38% to a 52-week low of $5.25 in the first half of the trading day, and was recently changing hands at $5.38. Shares were trading at around $7.10 this time a year ago and have fallen about 43% since the start of 2025.

The China-based auto-service and insurance provider said Wednesday night that it would offer more than 7.1 million shares for total gross proceeds of about $50 million. That reflects a price of about $7 per share. The stock had closed Tuesday at $8.44.

The offering is expected to close on Friday. Proceeds will be used for working capital and general corporate purposes.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

February 06, 2025 12:16 ET (17:16 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2509020147"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2509020147\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2509020147?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-02-07 01:16","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2509020147","market":"fut","top_or_hot":-1,"title":"SunCar Tech Shares at 52-Week Low After $50M Offering","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Dean Seal \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of SunCar Technology Group fell by more than a third after the company's public offering was priced to raise $50 million in gross proceeds. \n</p>\n<p>\n  The stock dropped as much as 38% to a 52-week low of $5.25 in the first half of the trading day, and was recently changing hands at $5.38. Shares were trading at around $7.10 this time a year ago and have fallen about 43% since the start of 2025. \n</p>\n<p>\n  The China-based auto-service and insurance provider said Wednesday night that it would offer more than 7.1 million shares for total gross proceeds of about $50 million. That reflects a price of about $7 per share. The stock had closed Tuesday at $8.44. \n</p>\n<p>\n  The offering is expected to close on Friday. Proceeds will be used for working capital and general corporate purposes. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 06, 2025 12:16 ET (17:16 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SunCar Tech Shares at 52-Week Low After $50M Offering</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSunCar Tech Shares at 52-Week Low After $50M Offering\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-02-07 01:16</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Dean Seal \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of SunCar Technology Group fell by more than a third after the company's public offering was priced to raise $50 million in gross proceeds. \n</p>\n<p>\n  The stock dropped as much as 38% to a 52-week low of $5.25 in the first half of the trading day, and was recently changing hands at $5.38. Shares were trading at around $7.10 this time a year ago and have fallen about 43% since the start of 2025. \n</p>\n<p>\n  The China-based auto-service and insurance provider said Wednesday night that it would offer more than 7.1 million shares for total gross proceeds of about $50 million. That reflects a price of about $7 per share. The stock had closed Tuesday at $8.44. \n</p>\n<p>\n  The offering is expected to close on Friday. Proceeds will be used for working capital and general corporate purposes. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 06, 2025 12:16 ET (17:16 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4192","symbol_name":"特殊消费者服务","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2509020147","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2509020147","pubTimestamp":1738862160,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of SunCar Technology Group fell by more than a third after the company's public offering was priced to raise $50 million in gross proceeds.The stock dropped as much as 38% to a 52-week low of $5.25 in the first half of the trading day, and was recently changing hands at $5.38. Shares were trading at around $7.10 this time a year ago and have fallen about 43% since the start of 2025.The China-based auto-service and insurance provider said Wednesday night that it would offer more than 7.1 million shares for total gross proceeds of about $50 million. That reflects a price of about $7 per share. The stock had closed Tuesday at $8.44.The offering is expected to close on Friday. Proceeds will be used for working capital and general corporate purposes.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4192":"特殊消费者服务","SDA":"盛大科技","BK4585":"ETF&股票定投概念"},"translate_title":"SunCar Tech发行5000万美元后股价跌至52周低点","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SDA":0.9},"content_text":"By Dean Seal \n\n\n \n\n\n  Shares of SunCar Technology Group fell by more than a third after the company's public offering was priced to raise $50 million in gross proceeds. \n\n\n  The stock dropped as much as 38% to a 52-week low of $5.25 in the first half of the trading day, and was recently changing hands at $5.38. Shares were trading at around $7.10 this time a year ago and have fallen about 43% since the start of 2025. \n\n\n  The China-based auto-service and insurance provider said Wednesday night that it would offer more than 7.1 million shares for total gross proceeds of about $50 million. That reflects a price of about $7 per share. The stock had closed Tuesday at $8.44. \n\n\n  The offering is expected to close on Friday. Proceeds will be used for working capital and general corporate purposes. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 06, 2025 12:16 ET (17:16 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}