** Shares of SunCar Technology Group SDA.O down 19.5% at $8.29 in extended trading as China-based auto services and insurance provider looks to raise equity
** Co announces up to $50 mln stock offering for working capital, general corp purposes
** BTIG lead bookrunner, joined by Macquarie and Oppenheimer
** Co has ~98.5 mln total shares outstanding (Class A and B) as of Feb 4 for about $1 bln market cap, per the SEC prospectus filing
** Its public float is ~33.2 mln shares, per LSEG
** SDA closed up 1.4% at $10.30 on Tues. Shares up ~7% YTD and were trading around $7.50 a year ago
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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.