Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 575

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 575
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 the consummation of the Qualified IPO that the certified accountants appointed by the Company are unable to issue an unqualified audit report; (b)any material breach of representation, warranties, obligation or agreement as set forth in the Shareholder Agreement, the Share Purchase Agreement and the Memorandum and Articles by any of the Mr. Chao Gao and his holding companies (collectively, the “Founder Parties”), which results in a substantial loss to the Company and/or the shareholders of ordinary shares and convertible redeemable preferred shares (collectively, “Investor”); (c)material integrity issue of the Founder Parties or any employees or member of the senior management directly or indirectly hold any shares of the Company, including the existence of off -bookincome of the Group Companies beyond the acknowledgement of the Investor, the material internal control leak of the Group Companies which is intentionally caused by the Founder Parties, the occurrence of which has or will result in substantial loss of the Company and/or the Investor; F-36 SCAGE INTERNATIONAL LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 12.CONVERTIBLE REDEEMABLE PREFERRED SHARES (cont.) (d)the redemption of shares of other shareholders of the Company by the Group or the Founder Parties; (e)the Founder Parties no longer devote major of their attention to the operation of the Group Companies, including the resignation from the Group Companies, being appointed by other companies engaging in a business which in competition with the Business of the Group Companies, or participant, operate or invest in the companies which are in competition with the Group Company (other than the circumstance that the Investor have already known and approved); (f)other circumstances result in the change of the ultimate controlling shareholder of the Company; (g)the main business of the Group is forbidden by applicable laws and regulations, or the alter of main business without approval of Investors; (h)any unclear, lost, infringement of third parties’ legal rights arising out of or relating to the core techniques and intellectual property which results in a material or substantial loss to the Company; (i)unless otherwise agreed by the Investors, the dismission or breach of the undertake of full -timework or the non -competitionagreement over half of the key employees. After the occurrence of the Redemption Triggering Event, each holder of the Convertible Redeemable Preferred Shares has the right to request for the redemption of part or all of the Convertible Redeemable Preferred Shares held by them. The redemption is exercised in the sequence of Series A