Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 261

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 261
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 Prasad and Ms. Li agreed that Scage International was more prepared for a listing than Target B and Target C. On May 18, 2023, Mr. Kung had a meeting with Scage International’s management at Scage International’s office in Nanjing, China to discuss Scage International’s business model. During that meeting, Mr. Kung also met with Ms. Li (Emily) Wang, Scage International’s Head of Investor Relations and Board Secretary, and Mr. Shaoke Li, Scage International’s IPO consultant. During the meeting, the parties discussed the prerequisites to a business combination and overall tentative timeline. In addition, Mr. Kung provided inputs on the merits of candidates for key IPO roles that Scage International must fill to complete a business combination. In the days immediately prior to signing the term sheet, Mr. Kung again sought the informal input from Mr. Chunyi (Charlie) Hao and Mr. Sanjay Prasad, as well as Ms. Tiemei (Sarah) Li. Mr. Hao stressed to Mr. Kung the importance of not allowing Finnovate to commit to a certain amount of cash in its trust account at the time of the business combination with any target company. Scage International’s management did not insist on this requirement, and Mr. Kung proceeded with the term sheet signing on May 22, 2023. A “kick -off” meeting was held by teleconference on May 23, 2023, among representatives of Finnovate and its legal counsel, Ellenoff Grossman & Schole LLP (“EGS”), and representatives of Scage International and Wilson Sonsini Goodrich & Rosati (“WSGR”), U.S. counsel to Scage International, and Jingtian & Gongcheng (“JTGC”), PRC counsel to Scage International. During this meeting, the participants discussed the anticipated terms of the proposed business combination outlined in the term sheet, a high -levelanticipated timeline for the proposed transaction and certain required submissions to the China Securities Regulatory Commission (“CSRC”). Between May 22, 2023, and the date of execution of the Business Combination Agreement, representatives of Finnovate held extensive meetings with representatives of Scage International and Finnovate management and gathered financial information to analyze in connection with Finnovate and ValueScope’s evaluation of Scage International. During the period between execution of the Term Sheet and signing of the Business Combination Agreement, Finnovate’s legal counsel conducted legal due diligence based on the documents and other