SunCar Completes Business Combination with Goldenbridge Acquisition Limited to Become Publicly Traded Company
17 Mai 2023 - 10:01PM
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 the completion of the previously
announced business combination (the “Business Combination”) with
Goldenbridge Acquisition Limited (Nasdaq: GBRG) (“Goldenbridge”), a
publicly traded special purpose acquisition company. The Business
Combination was approved at a special meeting of Goldenbridge’s
shareholders on April 14, 2023. Beginning Thursday, May 18,
2023, SunCar’s Class A ordinary shares and warrants will trade on
the Nasdaq Capital Market under the ticker symbols “SDA” and
“SDAWW,” respectively.
Yongsheng Liu, Chief Executive Officer of
Goldenbridge commented, "We are excited to complete the Business
Combination between Goldenbridge and SunCar. The Goldenbridge team
is honored to be part of this landmark occasion for SunCar."
Zaichang Ye, Chief Executive Officer of SunCar
commented, "The successful closing of our Business Combination with
Goldenbridge not only validates SunCar's strong value proposition
to our customers and shareholders, but also marks an important
milestone in our corporate development. In addition, it should
serve as a springboard to accelerate the growth of our company.
Being a publicly-traded company, we plan to leverage our expanded
resources, technology, brand equity, and operational know-how to
capitalize on new growth opportunities and deliver lasting
shareholder value."
Loeb & Loeb LLP and Forbes Hare served as
legal advisors to Goldenbridge. Pryor Cashman LLP and Maples and
Calder (Hong Kong) LLP served as legal advisors to SunCar. Maxim
Group LLC served as an M&A and financial advisor to
Goldenbridge. Chain Stone Capital Limited served as financial
advisor to SunCar.
About SunCar Technology Group
Inc.
Originally founded in 2007, SunCar is
transforming the customer journey for car insurance and aftermarket
services in China, the largest passenger vehicle market in the
world. SunCar develops and operates online platforms that
seamlessly connect drivers with a wide range of automotive services
and insurance coverage options from a nationwide network of
provider partners. As a result, SunCar has established itself as
the leader in China for B2B automotive after-sales services and the
online insurance market for electric vehicles. The company’s
multi-tenant, cloud-based platform empowers its enterprise clients
to optimally access and manage their customer database and
offerings, and drivers gain access to hundreds of services from
thousands of independent providers in a single application.
Forward Looking Statements
This press release includes forward-looking
statements that involve risks and uncertainties. Forward-looking
statements are statements that are not historical facts. Such
forward-looking statements, including the successful consummation
of the business combination, are subject to risks and
uncertainties, which could cause actual results to differ from the
forward-looking statements. SunCar expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in SunCar’s expectations with respect thereto or
any change in events, conditions or circumstances on which any
statement is based.
Contact
SunCar:Lingshi Road, No. 656,
Suite 209Shanghai, ChinaAttn: Ms. Hui Jiang and Ms. Li ChenEmail:
jianghui@4008801768.com chenli@4008801768.com
Investor & Media
Relations:John McKennaGaffney Bennett PR for SunCarEmail:
SunCar@GBPR.com
Goldenbridge Acquisition (NASDAQ:GBRG)
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