Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 609

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 609
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 possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the accompanying unaudited condensed financial statements, which Management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. Cash and Cash Equivalents The Company considers all short -terminvestments with an original maturity of three months or less when purchased to be cash equivalents. The Company had cash of $7,555 and $37 as of September 30, 2024 and December 31, 2023, respectively. Investment Held in Trust Account As of September 30, 2024 and December 31, 2023, the assets held in the Trust Account consisted of cash equivalents in the amount of $26,126,773 and $51,200,344, respectively. The Company’s portfolio of investments is comprised of cash in an interest -bearingdemand deposit account and thus have a readily determinable fair value. The funds are presented on the accompanying condensed balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the change in fair value of these securities is included in “income on investments held in the Trust Account” in the accompanying unaudited condensed statements of operations. The estimated fair values of investments held in the Trust Account are determined using available market information. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. As of September 30, 2024, the Company has not experienced losses on this account, and Management believes the Company is not exposed to significant risks on such account. Offering Costs Associated with the Initial Public Offering The Company complies with the requirements of the Accounting Standards Codification (“ASC”) 340 -10-S99-1and SEC Staff Accounting Bulletin (“SAB”) Topic 5A—“Expenses of Offering”. Offering costs consist principally of professional and registration fees incurred through the accompanying condensed balance sheets date that are related to the IPO. Offering costs were charged to Shareholder’s Equity upon completion of the IPO and subsequent exercise of the over -allotment. Accordingly, following the IPO on November 8, 2021 and subsequent exercise of the over -allotmenton November 12, 2021, offering costs totaling $4,171,912