Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 286

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 286
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, which are included as Annex D -1and D -2of this proxy statement/prospectus and describes the procedures followed, assumptions made, qualifications and limitations on the review undertaken and other matters considered by ValueScope. However, neither ValueScope’s opinions nor this summary of its opinions and the related analyses set forth in this proxy statement/prospectus are intended to be, and do not constitute, advice or a recommendation to the Finnovate’s board of directors, Finnovate, any security holder or any other person as to how to act or vote or make any election with respect to any matter relating to the Business Combination or otherwise. ValueScope’s opinions were only one of many factors considered by the Finnovate Board in evaluating the Business Combination. Neither ValueScope’s opinions nor its analyses were determinative of the Aggregate Merger Consideration Amount or of the views of Finnovate’s board of directors or management with respect to the Business Combination or the Aggregate Merger Consideration Amount. The type and amount of consideration payable in the Business Combination were determined through negotiations between Finnovate and Scage International, and the decision to enter into the Business Combination Agreement was solely that of the Finnovate’s board of directors. The fees paid or payable to ValueScope for the Initial Opinion totalled $80,000, excluding services provided between rendering the Initial Opinion and the Second Opinion, for which fees accrue based on time spent. The fees paid or payable to ValueScope for the Second Opinion totalled $19,055. ValueScope has no prior relationships with Finnovate or Scage International. Procedures For the Initial Opinion, ValueScope’s analysis relied upon, but was not necessarily limited to, the following: •A review of the draft Business Combination Agreement by and among Finnovate, as Purchaser, Scage Future, as PubCo, Hero1, as Merger Sub I, Hero2, as Merger Sub II, and Scage International Limited, as the Company, dated August16, 2023; •A review of Scage’s unaudited financial statements as of, and for the fiscal years, ended June30, 2021, June30, 2022, and June30, 2023; •A review of Scage’s the financial projections, representing the fiscal years ending June30, 2024 through June30, 2027; •A review of Scage’s targeted launch dates for its product lines; •A review of several presentations prepared by Scage’s management;