Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 476

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 476
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 assumed by contract, to refrain from engaging directly or indirectly in the same or similar business activities or lines of business as us; and (ii) we renounce any interest or expectancy in, or in being offered an opportunity to participate in, any potential transaction or matter which may be a corporate opportunity for any director or officer, on the one hand, and us, on the other. Our officers and directors currently have and will in the future have certain relevant fiduciary duties or contractual obligations that may, subject to applicable law, take priority over their duties to us. The Sponsor, our officers and directors, senior consultant or any of their respective affiliates, will be reimbursed for any bona -fide, documented out -of -pocketexpenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit committee will review on a quarterly basis all payments that were made to the Sponsor, our officers and directors, or any of their respective affiliates and will determine which expenses and the amount of expenses that will be reimbursed. There is no cap or ceiling on the reimbursement of out -of -pocketexpenses incurred by such persons in connection with activities on our behalf. As of the date of the final prospectus in Finnovate IPO, the Sponsor had agreed to loan us up to US$250,000 under a promissory note to be used for a portion of the expenses of the initial public offering. We repaid this promissory note in full on November 8, 2021. In addition, in order to fund working capital deficiencies or finance transaction costs in connection with our initial business combination, the Sponsor or an affiliate of the Sponsor may, but is not obligated to, provide us with working capital loans. Any such loans would be on an interest -freebasis. If we complete an initial business combination, we may repay the working capital loans out of the proceeds of the Trust Account released to us. In the event that an initial business combination does not close, we may use a portion of proceeds held outside the Trust Account to repay the working capital loans, but no proceeds held in the Trust Account would be used to repay the working capital loans. At the lender’s discretion, up to US$1,500,000 of such 242 working capital loans may be convertible into warrants of the post initial business combination entity at a price of US$1.00 per warrant. The warrants would be identical to the private warrants. As of March 31,