Company: SCAG
Filing Date: 2025-07-03
Form Type: 20-F
Source: 0001213900-25-061408
Chunk: 1

Company: Scage Future
Filing Date: 2025-07-03
Form: 20-F
Item: Item 1
Chunk 1
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 International, par value US$0.00001 per share, that was issued
and outstanding immediately prior to the First Merger Effective Time was cancelled in exchange for the right to receive a number of the
ordinary share of Scage International, par value US$0.00001 per share (“ Scage International Ordinary Share”), at the then-effective conversion
rate in accordance with Scage International’s amended and restated articles of association (the “ Conversion”). At the
First Merger Effective Time, pursuant to the First Merger, (1) each Scage International Ordinary Share that was issued and outstanding
immediately prior to the First Merger Effective Time and after the Conversion was cancelled and converted into the right to receive a
number of Ordinary Shares at the Exchange Ratio (as defined in the Business Combination Agreement) (if applicable, in the form of ADSs);
(2) any Company Convertible Securities (as defined in the Business Combination Agreement), to the extent then outstanding and unexercised
immediately prior to the First Merger Effective Time, were automatically assumed by PubCo and converted into a convertible security of
PubCo, subject to the same terms and conditions as were applicable to the corresponding former Company Convertible Securities immediately
prior to the First Merger Effective Time; (3) every issued and outstanding share of PubCo owned by One Strength Brother Limited,
being the only issued and outstanding share in PubCo immediately prior to the First Merger Effective Time, was cancelled; and (4) each
then issued and outstanding ordinary share of Merger Sub I, par value US$0.0001 per share, was converted into and exchanged for one
ordinary share of Scage International as the surviving company of the First Merger.

At the Effective Time, pursuant
to the Second Merger: (1) each issued and outstanding public unit of Finnovate was automatically detached and the holder thereof
was deemed to hold one Finnovate Class A Ordinary Share and three-quarters of one Finnovate Public Warrant (“ Unit Separation”),
(2) immediately following the Unit Separation, every issued and outstanding Finnovate Ordinary Share (other than treasury shares
held by Finnovate and those shares held by insiders and Dissenting Finnovate Shares or are subject to lock-up restrictions) immediately
prior to the Effective Time was cancelled and converted automatically into the right to receive one ADS; (3) every issued and outstanding
Finnovate Ordinary Share held by the insiders or subject to lock-up