Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 447

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 447
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 investor. (8)Reflects the repayment of due to related party balance of US$74,600 as of June 30, 2024 to the Sponsor of Finnovate. (9)Reflects the reclassification of interest income of US$379,248 earned from July 1, 2024 to November 4, 2024 from Finnovate’s retained earnings to PubCo’s additional paid -incapital. The same as the settlement of Finnovate’s historical retained earnings as of June 30, 2024 in Adjustment (4). (10)Reflects the payments for subsequent redemption in November 2024 of 1,383,214shares with the consideration of $16,157,894. (11)Reflects the retrieval of the promissory note upon the consummation of the Business Combination. On January 26, 2024, Finnovate issued a promissory note with the principal of up to US$1.5 million to Scage (“January 2024 Note”). No interest shall be accrued on the unpaid principal amount of this note. The principal balance of this note shall be due and payable in cash on the earlier of (a) the consummation of business combination and (b) the date of the liquidation of Finnovate. Upon lending US$0.2 million as of June 30, 2024 and US$106,520 subsequently as of October 31, 2024, Scage recorded it as a promissory note receivable, which will be settled upon the consummation of business combination. Upon closing, the impact resulting from the promissory note receivable is net cash inflow of US$0.2 million. (12)Reflects the repayment of the promissory note upon the consummation of the Business Combination. US$0.1 million was deposited into the Trust Account as of June 30, 2024 and the remaining US$0.1 million was for Finnovate’s daily operations. Subsequently in October 2024, additional US$106,520 was withdrawn for Finnovate’s daily operations. Upon receiving US$0.2 million as of June 30, 2024 and US$106,520 subsequently as of October 31, 2024, Finnovate recorded it as a promissory note payable, which will be settled upon the consummation of business combination. Upon closing, the impact resulting from the prom