Company: SCAG
Filing Date: 2025-07-03
Form Type: 20-F
Source: 0001213900-25-061408
Chunk: 58

Company: Scage Future
Filing Date: 2025-07-03
Form: 20-F
Item: Item 4
Chunk 58
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 otherwise (any of the foregoing described in clauses (i), (ii) or (iii), a “Prohibited Transfer”) (subject to early release if PubCo consummates a Change of Control).
 
4

 

In addition, the remaining shareholders of Scage International entered into a lock-up agreement (each, a “Seller Lock-Up Agreement”) on the Closing Date, pursuant to which each of them has agreed not to make a Prohibited Transfer during the period commencing from the Closing Date and ending on the 6-month anniversary of the Closing Date (subject to early release if PubCo consummates a Change of Control).
 
Prior to the Closing of the Business Combination, Finnovate and Scage International released certain Ordinary Shares issuable to certain non-affiliate shareholders of Scage International from the transfer restrictions under the Seller Lock-up Agreement in order to satisfy the initial listing requirements of the Nasdaq Stock Market.
 
Shareholder Support Agreement
 
Simultaneously with the execution of the Business Combination Agreement, Finnovate, Scage International, and Key Company Shareholders entered into a Shareholder Support Agreement (the “Shareholder Support Agreement”), pursuant to which, among other things, Key Company Shareholders have agreed (a) to support the adoption of the Business Combination Agreement and the approval of Business Combination, subject to certain customary conditions, and (b) not to transfer any of their subject shares (or enter into any arrangement with respect thereto), subject to certain customary conditions.
Sponsor Support Agreement
 
Simultaneously with the execution of the Business Combination Agreement, the Company, Scage International, Finnovate and Finnovate Sponsor L.P. (the “Sponsor”) entered into a Sponsor Support Agreement (the “Sponsor Support Agreement”), pursuant to which the Sponsor agreed to vote all of its shares of Finnovate in favor of the Business Combination Agreement and the transactions contemplated therein. The Sponsor Support Agreement also prevents certain transfers of securities of Finnovate held by the Sponsor between the date of the Sponsor Support Agreement and the termination of the Sponsor Support Agreement.
 
On January 3, 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”).
 
Pursuant to the Sponsor Distribution, the