Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 66

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 66
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 Federal Income Tax Considerations—U.S. Holders—The Business Combination—Tax Consequences of the Business Combination.” Q.Why is Finnovate proposing the NTA Proposal? A.The adoption of the proposed amendments to remove the net asset test limitation from the Finnovate Articles is being proposed in order to facilitate the consummation of the Business Combination, by permitting redemptions by Finnovate Public Shareholders even if such redemptions result in Finnovate having net tangible assets that are less than US$5,000,001. The purpose of the net asset test limitation was initially to ensure that the ordinary shares are not deemed to be “penny stock” pursuant to Rule 3a51 -1under the Exchange Act. Because the Finnovate Ordinary Shares and the PubCo Ordinary Shares would not be deemed to be a “penny stock” pursuant to other applicable provisions of Rule 3a51 -1under the Exchange Act, Finnovate is presenting the NTA Proposal so that the parties may consummate the Business Combination even if Finnovate has US$5,000,000 or less in net tangible assets following redemptions. The approval of the NTA Proposal requires a special resolution under Cayman Islands law, being the affirmative vote of the holders of at least two -thirdsof the ordinary shares who, being present and entitled to vote at the Meeting, vote at the Meeting. Abstentions and broker non -voteswill not count as a vote cast at the Meeting. Q.If I am a Unit holder, can I exercise redemption rights with respect to my Units? A.No. Holders of outstanding Public Units must separate the underlying Finnovate Class A Ordinary Shares and Finnovate Warrants prior to exercising redemption rights with respect to the Finnovate Public Shares. If you hold Units registered in your own name, you must deliver the certificate for such Units to Continental Stock Transfer & Trust Company, Finnovate’s transfer agent, with written instructions to separate such Units into Finnovate Public Shares and Finnovate Warrants. This must be completed far enough in advance to permit the mailing of Finnovate Public Share certificates back to you so that you may then exercise your redemption rights upon the separation of the Finnovate Public Shares from the Units. See “How do I exercise my redemption rights?” above. The address of Continental Stock Transfer & Trust Company is listed under the question “Who can help answer my questions?” below. If a broker, dealer, commercial bank,