Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 446

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 446
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 entity to PubCo and its share capital will represent that of PubCo after the business combination. The adjustment (4) reflects (i) recapitalization of Scage through the issuance of Finnovate shares and eliminating Finnovate historical accumulated deficit; and (ii) the contribution of all the share capital in Scage to Finnovate. (5)Reflects the repayment of related party loans, including $974,210 outstanding as of June 30, 2024 and $184,229 subsequently received as of October 31, 2024. In November 2023, Finnovate issued a loan to Sunorange (“November 2023 Note”). As of December 31, 2024, an aggregate of approximately US$1,213,630 was due to Sunorange under the November 2023 Note. The November 2023 Note is non -interestbearing and payable upon the earlier of (i) the date of the consummation of the Business Combination or (ii) the date of our liquidation. (6)Reflects the payment to a financial consultant, 3A Partners, upon Closing. According to the service agreement (amended in October 2024) with the financial consultant, upon the Closing, Finnovate shall pay to the financial consultant a fee in cash equal to 0.05% of the implied enterprise value of the target company, or $400,000 provided for in the Transaction immediately prior to the closing of the Transaction. With consent by the financial consultant, all or any portion of the Fee may be payable in newly -issuedof its ordinary shares at redemption price. (7)Scage International entered into two subscription agreements with an investor on October 20, 2024 and August 23, 2024, respectively, pursuant to which the investor shall invest $10 million and $10 million, and subscribe for 1,721,171 and 1,721,171 ordinary shares of Scage International, respectively, both at a per share price of US$5.81. Such shares subscribed by the investor will be cancelled and converted into the right to receive a number of PubCo Ordinary Shares at the Exchange Ratio (as defined in the Business Combination Agreement) in the form of PubCo ADSs at the First Merger Effective Time pursuant to the Business Combination Agreement. As of December 31, 2024, Scage International has received $20 million, and issued 3,442,342 ordinary shares of Scage International to the