Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 428

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 428
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 Shares issuable to certain Finnovate Initial Shareholders and Scage International shareholders from the transfer restrictions under the lock -upagreements in order to satisfy the initial listing requirements of the Nasdaq Stock Market. Results of Operations As of September30, 2024, we have not commenced any operations. All activity for the period from March15, 2021 (inception) through September30, 2024, relates to our formation and Initial Public Offering that occurred on November8, 2021, and, since the completion of the Initial Public Offering, searching for a target to consummate an 211 initial Business Combination. We will not generate any operating revenues until after the completion of an initial Business Combination, at the earliest. We will generate non -operatingincome in the form of interest income from the proceeds derived from the Initial Public Offering and placed in the Trust Account. There has been no significant change in our financial or trading position and no material adverse change has occurred since the date of our audited financial statements, December31, 2023. For the three months ended September30, 2024, we had a net loss of $97,285 consisting of $375,172 in operating, general and administrative expenses offset by $277,887 in interest gained on the bank account and the investment held in Trust Account. For the nine months ended September30, 2024, we had net income of $95,191, consisting of $1,247,329 in interest gained on the bank account and the investment held in Trust Account offset by $1,152,138 in operating, general and administrative expenses. For the three months ended September30, 2023, we had net income of $6,069, consisting of $641,632 in interest gained on the bank account and the investment held in Trust Account offset by $635,563 in formation, general and administrative expenses. For the nine months ended September30, 2023, we had net income of $2,412,428, consisting of $3,894,122 in interest gained on the bank account and the investment held in Trust Account offset by $1,481,694 in formation, general and administrative expenses. For the year ended December31, 2022, we had a net income of $1,110,622, consisting of $2,583,038 in interest earned on the bank account and the investment held in Trust Account offset by $1,472,416 in formation, general and administrative expenses. Liqu