Company: SCAG
Filing Date: 2025-07-03
Form Type: 20-F
Source: 0001213900-25-061408
Chunk: 12

Company: Scage Future
Filing Date: 2025-07-03
Form: 20-F
Item: Item 1
Chunk 12
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 (the “ Amendment to the Registration Rights Agreement”), dated
November 8, 2021 by and among Finnovate, Sponsor and the holders named therein, with Finnovate, Scage International and the Sponsor. Pursuant
to the Amendment to the Registration Rights Agreement, we have agreed, among others, file a registration statement in respect of all Registrable
Securities (as defined therein) requested by the Sponsor and Requesting Holder(s) (as defined therein) pursuant to such Demand Registration
(as defined therein), not more than forty five (45) days immediately after our receipt of the Demand Registration, and shall effect the
registration thereof as soon as reasonably practicable thereafter.

Seller Registration Rights Agreement

On the Closing Date, we entered
into a registration rights agreement (the “ Seller Registration Rights Agreement”) with certain shareholders, pursuant to which
we have agreed, among others, that we shall use our best efforts to, as expeditiously as possible after receipt of a request for a Demand
Registration (as defined therein), prepare and file with the SEC a registration statement on any form for which we then qualify or which
our counsel shall deem appropriate and which form shall be available for the sale of all Registrable Securities (as defined therein) to
be registered thereunder in accordance with the intended method(s) of distribution thereof, and shall use our reasonable efforts to cause
such registration statement to become effective and use our reasonable efforts to keep it effective for the period required by the Seller
Registration Rights Agreement, subject to certain exceptions.

Promissory Notes

On the Closing Date, we issued
to promissory notes the EBC in connection with certain fees payable by us pursuant to the Business Combination Agreement. For details,
please refer toExhibits 4.15 and 4.16to this Report.

PIPE

Scage International entered
into subscription agreements with an investor on August 23, 2024 and October 20, 2024, respectively, and pursuant to the subscription
agreements, the investor subscribed for 3,442,342 ordinary shares of Scage International in a private placement transaction at a per share
price of US$5.81, which represented the per share price of the ordinary shares of Scage International based on a post-investment valuation
of Scage International of US$800 million in line with evaluation of Scage International in connection with the Business Combination.
Such shares subscribed by the investor were cancelled and converted into the right to receive a number of Ordinary