Pryor Cashman advised Auto Services Group Limited (SunCar), a leading provider of digitalized auto services and auto insurance through Sun Car Online Insurance Agency Co., Ltd., in its merger agreement with Goldenbridge Acquisition Limited, a British Virgin Islands special purpose acquisition company.
The proposed merger values the combined company at approximately $858 million; SunCar generated approximately $250 million in revenue in 2021, based on its unaudited financial statements.
SunCar was advised by Pryor Cashman Partners Elizabeth F. Chen and Michael T. Campoli, and Associates Steven Xie and Yingkai Luo.
Once the merger is complete, the combined company is expected to be listed on Nasdaq.
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