Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 113

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 113
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 can assure you that Scage International and its subsidiaries can complete the filing procedures in a timely manner or at all. Scage International will not proceed to complete the Business Combination without receiving CSRC approval pursuant to the Overseas Listing Trial Measures. If Scage International fails to complete required filing procedures for the Business Combination and the listing of PubCo’s securities on Nasdaq, Finnovate has the right to terminate the Business Combination Agreement in accordance with its terms, and the Business Combination may not be consummated. If Scage International violates or is deemed to have violated any current or future rules or regulations, regulatory agencies in China may impose fines and penalties on Scage International’s operations in China, limit its operating privileges in China, delay or restrict the repatriation of the proceeds from offshore fund -raisingactivities into the PRC or take other actions, which would materially adversely affect Scage International’s business, financial condition and results of operations, as well as the trading price of PubCo ADSs following the consummation of the Business Combination. Scage International cannot guarantee that new rules or regulations promulgated in the future will not impose any additional requirements on Scage International or the PRC Subsidiaries, or otherwise tighten the regulations on Scage International’s present or proposed business in PRC. If it is determined that Scage International’s future offshore fund -raisingactivities is subject to any CSRC approval, filing, other governmental authorization or requirements, Scage International cannot assure you that Scage International or the PRC Subsidiaries could obtain such approval or meet such requirements in a timely manner or at all. Such failure may subject Scage International or the PRC Subsidiaries to fines, penalties or other sanctions which may have a material adverse effect on Scage International’s business and financial condition. See “Risk Factors—Risks Related to Doing Business in China—The filing with the CSRC may be required in connection with the Business Combination, and Scage International cannot predict whether it will be able to obtain such approval or complete such filing.” On February 24, 2023, the CSRC, the Ministry of Finance, the National Administration of State Secrets Protection and the National Archives Administration released the revised Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and Listing by Domestic Companies (the “Archives Rules”), which became effective on March 31, 2023. The Archives Rules regulate both overseas direct offerings and overseas indirect offerings, providing that, among other things: •