Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 103

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 103
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 Note in the aggregate principal amount of up to $1,500,000 to Scage International for our working capital needs. The January 2024 Promissory Note does not bear interest and matures upon the earlier of the closing of our initial business combination and our liquidation. As of November30, 2024, we had US$316,499 outstanding under the January 2024 Promissory Note. If the Business Combination is not consummated, the January 2024 Promissory Note may not be repaid to Scage International, in whole or in part. Thus, Scage International and its officers and directors will benefit from the completion of the Business Combination and may be incentivized to complete the Business Combination to recoup its loan, even though it may not be in the best interests of Scage International’s shareholders. •The anticipated continuation of three of Scage International’s existing directors, Mr.Chao Gao, Mr.Yuanchi Guo and Mr.Ziqian Guan, as directors of PubCo, and the anticipated continuation of Ms. Yu Xiang, the chief financial officer of Scage International as the chief financial officer of PubCo, may entitle such directors and officer to receive cash fees, stock options, stock awards or other remuneration that the PubCo Board determines to pay them for their service as directors and officer. •Mr.Chao Gao (by himself and by virtue of an acting -in-concertagreement), Mr.Yuanchi Guo and Mr.Ziqian Guan will beneficially own 45,441,182, 3,903,900 and 3,123,110 PubCo Ordinary Shares upon the consummation of the Business Combination, respectively, assuming the No Redemption scenario, holding 62.4%, 5.4% and 4.3% of all voting power of PubCo, respectively. •The current directors and executive officers of Scage International beneficially own 67.3% of all issued and outstanding share capital of Scage International as of the date of this proxy statement/prospectus, and upon the consummation of the Business Combination, such shares will be converted to 45,441,182 PubCo Ordinary Shares in the form of the ADSs, representing 62.4% of all voting power of PubCo. Recommendation to Finnovate’s Shareholders The Finnovate Board has determined that the Business Combination Proposal and the other proposals to be presented at the Meeting are fair to