Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 415

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 415
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 to the trust agreement, the trustee will not be permitted to invest in other securities or assets. As of November 2, 2023, the funds in the Trust Account were moved to an interest -bearingdemand deposit account. Recent Developments Amendments to Business Combination Agreement On June18, 2024, the parties to the Business Combination Agreement entered into the First Amendment to Business Combination Agreement. The amendment provides for, among other things, the: •reduction of the aggregate consideration to the shareholders of Scage International from $1,000,000,000 to $800,000,000; •correction of a scrivener’s error to clarify that Scage International is not an investment company; •the establishment of the ADS Facility by PubCo so that each of the ordinary shares to be issued by PubCo pursuant to the Business Combination Agreement may be represented by PubCo ADSs; •extension of the deadline for the Reorganization (as defined in the Business Combination Agreement) from September30, 2023 to July20, 2024; and •extend the Outside Date (as defined in the Business Combination Agreement) from February29, 2024 to October31, 2024. On October31, 2024, the parties to the Business Combination Agreement entered into the Second Amendment to Business Combination Agreement. The amendment extends the Outside Date (as defined in the Business Combination Agreement) from October31, 2024 to March31, 2025. May 2024 Extension of our Combination Period On May2, 2024, we held an extraordinary general meeting in lieu of an annual general meeting of shareholders (the “2024 EGM”) to amend the Finnovate Articles to approve the extension of the date by which the Company has to consummate an initial business combination from May8, 2024 to November8, 2024 (the “Second Extension Amendment”). There were 9,085,832 of our Ordinary Shares issued and outstanding on April4, 2024, the record date for the 2024 EGM. At the 2024 EGM, there were 7,997,433 Ordinary Shares present in person or by proxy, representing approximately 88.02% of the total Ordinary Shares outstanding as of the record date, which constituted a quorum. 205 Shareholders holding 2,374,826 Class A Ordinary Shares exercised their right to redeem such shares for a pro rata portion of the funds in our Trust Account. These shares were redeemed for approximately