Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 489

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 489
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 U.S. holder (including any stock constructively owned by the U.S. holder as a result of, among other things, owning warrants) 249 relative to all of shares of Finnovate Ordinary Shares both before and after the redemption. The redemption of stock generally will be treated as a sale of the stock (rather than as a corporate distribution) if the redemption is “substantially disproportionate” with respect to the U.S. holder, results in a “complete termination” of the U.S. holder’s interest in Finnovate or is “not essentially equivalent to a dividend” with respect to the U.S. holder. These tests are explained more fully below. In determining whether any of the foregoing tests are satisfied, a U.S. holder takes into account not only stock actually owned by the U.S. holder, but also shares of Finnovate Ordinary Shares that are constructively owned by such U.S. holder. A U.S. holder may constructively own, in addition to stock owned directly, stock owned by certain related individuals and entities in which the U.S. holder has an interest or that have an interest in such U.S. holder, as well as any stock the U.S. holder has a right to acquire by exercise of an option, which generally would include ordinary shares that could be acquired pursuant to the exercise of the Finnovate Warrants. In order to meet the substantially disproportionate test, the percentage of Finnovate’s outstanding voting stock actually and constructively owned by the U.S. holder immediately following the redemption of Finnovate Ordinary Shares must, among other requirements, be less than 80% of the percentage of Finnovate’s outstanding voting stock actually and constructively owned by the U.S. holder immediately before the redemption. There will be a complete termination of a U.S. holder’s interest if either all the Finnovate Ordinary Shares actually and constructively owned by the U.S. holder are redeemed or all the Finnovate Ordinary Shares actually owned by the U.S. holder are redeemed and the U.S. holder is eligible to waive, and effectively waives in accordance with specific rules, the attribution of stock owned by certain family members and the U.S. holder does not constructively own any other stock. The redemption of the Finnovate Ordinary Shares will not be essentially equivalent to a dividend if a U.S. holder’s redemption results in a “meaningful reduction” of the U.S. holder’s proportionate interest in Finnovate. Whether the redemption will result in a meaningful