Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 50

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 50
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ution that are not probable or not automatically convertible upon the consummation of the Business Combination. The above discussion and table are based on 5,327,792 Finnovate Ordinary Shares outstanding on December31, 2024, and excludes, as of such date, the following, which are material potential sources of future dilution that are considered improbable by the Company to be effected at or prior to the consummation of the Business Combination: (i)Up to 1,100,000shares issuable upon exercise of warrants, which may be issued upon conversion, at Sunorange’s election, of the June 2023 Note. Sunorange currently has no intention to convert the June 2023 Note. If the June 2023 Note is converted into warrants, and all of such warrants are exercised, the number of outstanding shares will be increased by 1,100,000shares, and the adjusted net book value will be increased by $1,100,000. (ii)34,602shares issuable upon conversion of $400,000 due to 3A Partners upon the consummation of the Business Combination. 3A Partners currently has no intention to convert the compensation payable. If such compensation is converted into shares, the number of outstanding shares will be increased by 34,602shares, and the adjusted net book value will be increased by $400,000.

xxii (iii)Up to 21,737,500shares issuable upon exercise of Public Warrants and Private Placement Warrant. Such warrants are not exercisable until 30 days after the Closing Date), at which point they are exercisable, at the holder’s election, until the five year anniversary of the Closing Date, at an exercise price of $11.50 (subject to adjustment). If all of such warrants are exercised, the number of outstanding shares will be increased by 21,737,500shares, and the adjusted net book value will be increased by $249,981,250. Q.What interests do the Sponsor, executive officers and directors and other parties have in the Business Combination? A.The Sponsor, which was organized to hold equity interests in Finnovate, and Finnovate’s executive officers and directors and others may have interests in the Business Combination that may be different from, or in addition to, the interests of Finnovate’s shareholders generally. The Finnovate Board was aware of and considered these interests to the extent such interests existed at the time, among other matters, in approving the Business Combination