Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 262

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 262
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 information provided by Scage International in a virtual data room (the “VDR”) and carried out meetings with Scage International’s management and its counsel. Due diligence efforts focused, among other areas, on the status of Scage International’s restructuring process, compliance with PRC laws and policies, non -competitionrisks of key employees, and any ongoing legal disputes. To facilitate legal due diligence efforts, Finnovate sent Scage International a customary legal due diligence request list on June 8, 2023, as supplemented on June 26, 2023, which requests were responded to by Scage International and its counsel in writing, orally during meetings and by Scage International periodically uploading responsive documents and other information to the VDR. Finnovate management team also reviewed 107 comprehensive due diligence findings from an earlier investor. Over the following weeks and until the Business Combination Agreement was signed, Finnovate, Scage International and their respective counsel continued to hold supplemental diligence meetings and engage in related communication; periodic updates were provided by Finnovate management to the Finnovate Board, who were kept informed about the status of due diligence and transaction negotiations. On May 29, 2023, Finnovate retained King & Wood Mallesons (“KWM”) as PRC counsel. On June 8, 2023, Scage International provided EGS and KWM access to the VDR containing certain financial and legal information of Scage International. On June 29, 2023, Mr. Yuanchi Guo visited members of the Finnovate working group in -personto review Scage’s financial model (the “Initial Projections”). In attendance was finance consultant to Scage International, Ms. Zijun (Valerie) Li, Mr. Kung, Mr. Wang Chiu (Tommy) Wong (Finnovate’s CFO) and Ms. Yanchun (Lisa) Yu. Prior to the meeting, the Finnovate team had prepared a series of questions about the Initial Projections received from Mr. Guo, and proposed minor revisions to the Initial Projections. During the meeting, the working group discussed the structure of the Initial Projections, the categorization of assets, liabilities and equity. This involved (i) reconciling individual accounts to their supporting documentation or ledgers; (ii) checking formulas for accuracy, ensuring they reference the correct cells and perform the intended calculations; and (iii) verifying that the formulas are consistent across the Initial Projections and that any