India, Nov. 6 -- SunCar Technology Group Inc. (SDA) announced on Friday, that its board of directors has authorized a share repurchase program of up to $10 million of its outstanding Class A ordinary shares over the next three months.
The company plans to fund the buybacks through a combination of cash on hand and cash generated from operations. Repurchases may be made through open-market purchases, privately negotiated transactions or other permitted methods, subject to applicable securities regulations and market conditions.
SunCar said the program reflects its confidence in its long-term growth prospects. The timing and number of shares repurchased will depend on market conditions, regulatory requirements and other factors.
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