Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 34

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 34
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 It is important for you to note that in the event that the Business Combination Proposal does not receive the requisite votes for approval, then Finnovate will not consummate the Business Combination. If Finnovate does not consummate the Business Combination and fails to complete an initial business combination by May8, 2025 (or such earlier time as the Finnovate Board determines), then Finnovate will be required to dissolve and liquidate its Trust Account by returning the then -remainingfunds in such account to its public shareholders and the Finnovate Warrants will expire worthless. xiii The Sponsor is controlled by its general partner, Sunorange Limited, and Mr.Kung and Mr.Wong serve as the sole directors of Sunorange Limited. On January3, 2025, the Sponsor consummated a distribution of its assets in accordance with its governing documents, which included the distribution of 4,237,499 Finnovate Class A Ordinary Shares, 1 Finnovate Class B Ordinary Share and 8,243,038 Finnovate Private Warrants then held by the Sponsor to its constituent members (the “Sponsor Distribution”). Following the Sponsor Distribution, the Sponsor no longer holds any Finnovate securities acquired by the Initial Shareholders. As of the Record Date, Sunorange Limited has voting and dispositive power over one (1) Finnovate Class B Ordinary Share. In the Sponsor Distribution, Mr.Kung received 25,000 Finnovate Class A Ordinary Shares, Mr.Wong received 226,153 Finnovate Class A Ordinary Shares, of which 15,000 Class A Ordinary Shares were distributed to Mr.Wong in his personal capacity and 211,153 Class A Ordinary Shares were distributed to Sun Tone Limited, for which Mr.Wong is sole owner and director. Mr.Wong also received 464,964 Private Warrants through Sun Tone Limited. As general partner of the Sponsor, Sunorange coordinates and authorizes the Sponsor’s financing arrangements with Finnovate, including all loans provided to Finnovate. It has also contributed significant capital at risk as lender to Finnovate of approximately US$2.4million under the June 2023 Note, the November 2023 Note and the November 2024 Note, as described above. On May 8, 2023, Finnovate’s shareholders approved an amendment to the Finnovate Articles (the “First Extension Amendment”). The First Extension Amendment extends the date by which Finnovate must consummate its initial business combination