Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 416

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 416
---
 $11.33 per share for a total redemption value paid from the Trust Account of approximately $26,907,976. On May15, 2024, we issued the May 2024 Note in the aggregate principal amount of up to $225,000 to the Sponsor, which were deposited into the Trust Account for the benefit of each Finnovate Public Share that was not redeemed in connection with the Second Extension Amendment. The Sponsor agreed to pay $37,500 per month until the completion of our initial business combination, commencing on May8, 2024 and continuing through November8, 2024. The May 2024 Promissory Note bears no interest and is due and payable upon the earlier to occur of (i) the date on which we consummate our initial business combination and (ii) the date that our winding up is effective. As of June30, 2024, the Sponsor had deposited an aggregate of $1,275,000 into the Trust Account to support the First Extension Amendment and the Second Extension Amendment on behalf of the Company. As of June30, 2024, the outstanding balance of the May 2024 Note was $75,000. November 2024 Extension of our Combination Period On November6, 2024, we held an extraordinary general meeting of shareholders (the “November 2024 EGM”) to amend our Amended and Restated Memorandum to approve an extension of the Company’s termination date from November 8, 2024 to May8, 2025 (the “November 2024 Extension”). Shareholders holding 1,383,214shares of the Company’s Class A ordinary shares exercised their right to redeem such shares for a pro rata portion of the funds in the Company’s Trust Account. As a result, approximately $16.16million (approximately $11.68 per share) was removed from the Trust Account to pay such holders. On November11, 2024, we issued a promissory note (the “November 2024 Note”) in the aggregate principal amount of up to $259,588 to the Sponsor, which will be deposited into the Trust Account for the benefit of each Public Share that was not redeemed in connection with the November 2024 Extension. We will deposit $43,264.60 per month into the Trust Account, which equates to approximately $0.05 per remaining Public Share, for each calendar month (commencing on November8, 2024 and ending on the 7