Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 443

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 443
---
 outstanding convertible debt as of June30, 2024. Company Merger Shares refer to a number of PubCo Ordinary Shares in the form of PubCo ADSs equal to the quotient determined by dividing (i) the Aggregate Merger Consideration Amount (the total Merger Consideration Amount of $800,000,000 minus the Closing Net Debt of $7,534,292 of Scage) by (ii) Per Share Price (the Redemption Price of approximately $11.68 per share). Per Share Price means the Redemption Price, which shall be no less than the par value of Purchaser Ordinary Shares. 219 Upon the completion of the Business Combination, assuming among other things, that no exercise of redemption rights by Finnovate Public Shareholder (prior to giving effect to any warrant exercises and assuming automatic conversion of rights into ordinary shares), no conversion of outstanding convertible bonds of Scage International and no exercise of Finnovate Warrants or PubCo Warrants, Finnovate Public Shareholders, the Sponsor and its distributees and other Initial Shareholders, Scage International’s shareholders, and other Investors will own approximately 1.2%, 5.9%, 92.7%, and 0.2% of the outstanding shares of PubCo, respectively, such percentages calculated assuming that Scage International’s shareholders and their affiliates receive approximately 67,482,417 Ordinary Shares of PubCo in the form of PubCo ADSs, derived from the shares outstanding and weighted average shares outstanding as presented in the pro forma combined financial statements (after rounding adjustment). If 865,292 ordinary shares of Finnovate are ultimately redeemed, Public Shareholders, the Sponsor and its distributees and other Initial Shareholders, the Sellers, and the other Investors are expected to own approximately nil, 6.0%, 93.8%, and 0.2%, respectively, of the Ordinary Shares of PubCo and approximately nil, 6.0%, 93.8%, and 0.2%, respectively, of voting power of PubCo following the closing. As such, Finnovate shareholders who do not redeem their ordinary shares of Finnovate will experience immediate and material dilution upon closing of the Business Combination. 220

UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEET AS OF June 30, 2024

| ASSETS                                                                                                                  
 Current assets                                                                                                          |     | Historical 
 FinnovateA |            |     |     |     | ScageB