Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 263

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 263
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 changes in assumptions or inputs are correctly reflected in the balance sheet. Mr. Guo explained his assumptions about future growth and made further refinements to incorporate comments from Finnovate during the meeting. While Finnovate and its advisors continued to engage in due diligence, the parties and their legal counsel discussed and negotiated the terms of the Business Combination Agreement, an initial draft of which was prepared and sent by EGS to WSGR on June 19, 2023. Between June 19, 2023 and August 21, 2023, the parties and their counsel exchanged multiple drafts of the Business Combination Agreement. Numerous calls and virtual meetings between the parties and their counsels were held during this period to discuss the terms of the Business Combination Agreement, including calls between representatives of Finnovate and Scage International on July 8, August 8, August 11, August 17, August 18, and August 21, 2023. The topics discussed during these calls and virtual meetings included, without limitation, (i) the timing and amount of an anticipated capital raise by Scage International, (ii) the terms of the lock -upapplicable to certain Scage International’s stockholders after the closing, (iii) whether the Combined Company should adopt a dual class share structure with super -votingshares, (iv) certain representations and warranties of Scage International and (v) allocation of certain transaction expenses. During the course of negotiations of the Business Combination Agreement, the parties also exchanged drafts of, and negotiated the terms of, the Sponsor Support Agreement, the Shareholder Support Agreements, the Lock -UpAgreements and the Proposed Charter (the “Ancillary Agreements”). In June 2023, Finnovate initiated discussions with ValueScope, Inc. (“ValueScope”), a business valuation firm, with the intention of retaining ValueScope as its financial advisor to conduct a fairness analysis. On July 6, 2023, the Finnovate team held a call with representatives from ValueScope. During the call, Finnovate management introduced Scage International’s business and explained the Initial Projections to ValueScope. Finnovate management was introduced to ValueScope through mutual acquaintances who serve as Finnovate directors. Notably, Mr. Chunyi (Charlie) Hao and Mr. Sanjay Prasad were familiar with ValueScope’s work having reviewed an opinion rendered by ValueScope regarding the fairness of the merger consideration for a previous transaction they had been involved in. Finnov