Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 42

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 42
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 Effect with respect to the Target Companies (taken as a whole) since the date of the Business Combination Agreement which is continuing and uncured; (4) the Non -CompetitionAgreements, the Employment Agreements, the Amended and Restated Registration Rights Agreement, each Key Seller Lock -UpAgreement and each Seller Lock -UpAgreement shall be in full force and effect from the Closing; (5) resignation of the directors and officers of Scage International as requested by Finnovate prior to the Closing; (6) the Reorganization having been consummated by July20, 2024; and (7) Scage International and Nanjing Scage shall have reached a waiver, compromise, conciliation, settlement or similar resolution of disputes with Shenzhen Deju Brothers Special II Corporate Management Partnership (Limited Partnership) regarding Scage International’s or Nanjing Scage’s equity, and the property preservation measures against Nanjing Scage (the equity interest held by Nanjing Scage in Scage International (Shanghai) Hydrogen Energy Technology Co., Ltd. has been judicially frozen) have been released. For a summary of all of the conditions that must be satisfied or waived prior to completion of the Business Combination, see the section entitled “The Business Combination Proposal—The Business Combination Agreement and Related Agreements.” In the event of the waiver of a condition, the Finnovate Board will evaluate the materiality of any such waiver to determine whether amendment of this proxy statement/prospectus and recirculation or resolicitation of stockholder approval is necessary. For more information, refer to the section titled“The exercise of Finnovate’s directors’ and executive officers’ discretion in agreeing to changes or waivers in the terms of the Business Combination may result in a conflict of interest when determining whether such changes to the terms of the Business Combination or waivers of conditions are appropriate and in Finnovate’s shareholders’ best interest.” Q.Did the Finnovate Board obtain a fairness opinion in determining whether to proceed with the Business Combination? A.Yes. Pursuant to the Finnovate Articles, and as provided in the Finnovate IPO prospectus, Finnovate is only required to obtain an opinion from an independent investment banking firm or another valuation or appraisal firm that regularly renders fairness opinions that such an initial business combination is fair to Finnovate from a financial point of view, if Finnovate would seek to complete an initial business combination with a business combination target that is affiliated with the Sponsor, or Finnovate’s directors