Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 272

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 272
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 included: •meetings and calls with the management team and advisors of Scage International regarding, among other, things, Scage International’s operations and business plans; •review of material contracts and other material matters; •third -partymarket studies and diligence reports; •financial, tax, legal, IT infrastructure, accounting, operational, business and other due diligence; 112 •consultation with Scage International’s management and its legal counsel; •financial analyses and Fairness Opinion as presented by ValueScope to the Finnovate Board, as further described in the section entitled “—Summary of the Opinion of ValueScope as Financial Advisor to Finnovate” below. At the conclusion of this process, the Finnovate Board determined that while, like all potential business deals, the acquisition of Scage International presents potential risks, nevertheless pursuing a potential business combination with Scage International would overall be an attractive opportunity for Finnovate and its shareholders for a number of reasons, including, but not limited to, the belief that (i) no other company is as well -positionedas Scage International to capitalize on the demand for new energy heavy -dutycommercial vehicles in China and beyond; (ii) Scage International’s research and development of hybrid technology as applied to heavy -dutycommercial vehicles has progressed more rapidly and was more commercially viable than its peers; (iii) Scage International’s management team has an exciting long -termvision to develop solutions to other segments of the new energy transportation value chain; and (iv) that Scage International can currently be acquired at an attractive valuation to maximize potential returns to Finnovate shareholders. In addition, based on its review of information about Scage International and its business plans, and the results of Finnovate management’s financial analyses, as further described below, the factors considered by the Finnovate Board included, but were not limited to, the following: • Earnings history and potential. Scage International combines a proven track record of sales with an innovative product pipeline against a backdrop of favorable macro trends. • Strong management team. The team is composed of successful entrepreneurs and R&D leaders with at least fifteen years of experience in the industry, and key management team members with public company experience, having worked at such companies as Volkswagen, Chery, and Toshiba and have deep experience partnering with government agencies in China and overseas. The founder, CEO and Chairman Mr. Chao Gao is highly reputable in the EV industry. His track record spans engineering research and management leadership. His research