Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 485

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 485
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umed Warrants will recognize gain or loss upon such exchange equal to the difference between the fair market value of the Assumed Warrants received and such U.S. holder’s adjusted basis in its Finnovate Warrants. A U.S. holder’s basis in its Assumed Warrants received in the Business Combination will equal the fair market value of the Assumed Warrants. A U.S. holder’s holding period in its Assumed Warrants will begin on the day after the Business Combination. If the Business Combination qualifies as a reorganization as well as a Section 351 exchange, a U.S. holder whose Finnovate Warrants automatically convert into Assumed Warrants should not recognize gain or loss upon such exchange. In such case, a U.S. holder’s adjusted tax basis in the Assumed Warrants received should be equal to the holder’s adjusted tax basis in the Finnovate Warrants exchanged therefor, and the holding period of the Assumed Warrants should include the holding period during which the Finnovate Warrants exchange therefor were held by such holder. If the Business Combination qualifies as an exchange governed only by Section 351 of the Code (and not by Section 368 of the Code), a U.S. holder that receives PubCo ADSs in exchange for Finnovate Ordinary Shares and that holds Finnovate Warrants that automatically convert into Assumed Warrants will recognize gain (but not loss) in an amount equal to the lesser of (i) the amount of gain realized by such holder (generally, the excess (if any) of (x) the sum of the fair market values of the PubCo ADSs and the Assumed Warrants received by such holder over (y) such holder’s aggregate adjusted tax basis in the Finnovate Ordinary Shares and Finnovate Warrants exchanged therefor) and (ii) the fair market value of the Assumed Warrants received by such holder in such exchange. To determine the amount of gain, if any, that such U.S. holder must recognize, the holder must compute the amount of gain or loss realized as a result of the Business Combination on a share -by -shareand warrant -by -warrantbasis by allocating the aggregate fair market value of (i) the PubCo ADSs and (ii) the Assumed Warrants received by such U.S. holder among the Finnovate Ordinary Shares and Finnovate Warrants owned by such U.S. holder immediately prior to the Business Combination in proportion to their fair market values