Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 408

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 408
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ate IPO prospectus or (B) with respect to any other provision relating to shareholders’ rights or pre -initialbusiness combination activity, unless we provide our public shareholders with the opportunity to redeem their Finnovate Public Shares upon approval of any such amendment at a per -shareprice, payable in cash, equal to the aggregate amount then on deposit in the trust account, including accrued interest (which interest shall be net of taxes payable), divided by the number of then issued and outstanding Finnovate Public Shares. However, we may not redeem our Finnovate Public Shares in an amount that would cause our net tangible assets to be less than US$5,000,001 either immediately prior to or upon completion of our initial business combination (so that we do not then become subject to the SEC’s “penny stock” rules). We expect that all costs and expenses associated with implementing our plan of dissolution, as well as payments to any creditors, will be funded from amounts remaining out of the US$1,250,000 of proceeds held outside the trust account, although we cannot assure you that there will be sufficient funds for such purpose. However, if those funds are not sufficient to cover the costs and expenses associated with implementing our plan of dissolution, to the extent that there is any interest accrued in the trust account not required to pay taxes, we may request the trustee to release to us an additional amount of up to US$100,000 of such accrued interest to pay those costs and expenses. 201 If we were to expend all of the net proceeds of the Finnovate IPO and the sale of the Finnovate Private Warrants, other than the proceeds deposited in the trust account, the per -shareredemption amount received by shareholders upon our dissolution would be approximately US$11.85 (based on the amount in the Trust Account as of the Record Date, net of taxes payable). The proceeds deposited in the trust account could, however, become subject to the claims of our creditors which would have higher priority than the claims of our public shareholders. We cannot assure you that the actual per -shareredemption amount received by shareholders will not be substantially less than US$11.85. While we intend to pay such amounts, if any, we cannot assure you that we will have funds sufficient to pay or provide for all creditors’ claims. Although we will seek to have all vendors, service providers (other than our independent auditors), prospective target businesses or other entities with which we do business execute agreements with us waiving any