Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 257

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 257
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 the transaction division of CCB International. Mr. Wang began a family office in 2014 to manage the funds of family and friends. Since 2014, Mr. Wang has invested across healthcare, renewable energy, hospitality, shared economy, media, internet and communication, manufacturing, and has participated in cross -bordermergers and acquisitions transactions since 2014. Mr. Kung recognized that Mr. Wang’s network and transaction experience would be valuable to Finnovate with respect to helping the new management team identify potential business combination targets. Mr. Kung sent Mr. Wang a web link to Finnovate’s proxy statement on Form DEF 14A dated April 27, 2023 describing the proposed Investment Agreement, including the management reorganization and Mr. Kung’s proposed role as Chairman and CEO of Finnovate. Mr. Kung called Mr. Wang to explain that he and his partners planned to assume control of the Sponsor and asked if Mr. Wang could assist with introducing SPAC business combination targets. Mr. Kung described the characteristics of ideal acquisition targets for Finnovate: •Companies at a revenue -generatingstage (rather than pre -revenue); •Companies in an emerging and high growth industry; •Companies with competitive valuation compared to its peer competitors; and •Companies proven fundraising ability to ensure a smooth PIPE raise in connection with the business combination. Mr. Wang explained to Mr. Kung that he would expect to receive both a monthly consulting fee for his services to Finnovate, as well as a finder’s fee, such finder’s fee contingent upon completing the de -SPACfor identifying business combination targets. Between April 27, 2023 and May 4, 2023, Mr. Kung and Mr. Wang negotiated the terms of a consulting fee and a finder’s fee. The two parties tentatively agreed that Finnovate would pay Mr. Wang a consulting fee of US$10,000 per month and a finder’s fee of 0.05% of the business combination target enterprise valuation. On the evening of April 28, 2023, by introduction of Mr. Wang, Mr. Kung met with several members of Scage International’s management team over dinner. Participants included Mr. Chao Gao, Chairman and CEO of Scage International, Mr. Yuanchi (Ethan) Guo, Interim CFO of Scage International, Ziqian Guan, COO of 105 Scage International, and Mr. Wang. The