Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 402

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 402
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3, Finnovate entered into the Investment Agreement with the Sponsor and Sunorange, pursuant to which Sunorange and its designees would acquire partnership interests in the Sponsor and Finnovate Class B Ordinary Shares held by certain Finnovate directors, which combined interests entitle Sunorange and its designees to receive, in the aggregate, 4,237,499 Class B Ordinary Shares (of which it acquired an economic interest in 3,557,813 Finnovate Class B Ordinary Shares) and 8,243,038 Finnovate Private Warrants (of which it acquired an economic interest in 6,160,000 Finnovate Private Warrants). In connection with the Investment Agreement, which closed on May 8, 2023 Finnovate introduced a change in management and the Finnovate Board as follows: (i) Calvin Kung replaced David Gershon as Chairman of the Board and Chief Executive Officer and Wang Chiu (Tommy) Wong replaced Ron Golan as Chief Financial Officer and director of the Finnovate Board, effective upon closing of the Sunorange Investment; (ii) Jonathan Ophir and Uri Chaitchik tendered their resignations as Chief Investment Officer and Senior Consultant; and (iii) Mitch Garber, Gustavo Schwed and Nadav Zohar tendered their resignations as directors, effective upon expiration of all applicable waiting periods under Section 14(f) of the Exchange Act, and Rule 14f -1thereunder (such period of time being referred to as the “Waiting Period”). Finnovate designated each of Chunyi (Charlie) Hao, Tiemei (Sarah) Li and Sanjay Prasad (the “New Directors”) to fill the vacancies to be left by departing directors Mitch Garber, Gustavo Schwed and Nadav Zohar (the “Outgoing Directors”), to be effective ten (10) days after the mailing of the 14F. On May 29, 2023, the resignation of the Outgoing Directors and appointment of the New Directors became effective. On May 8, 2023, Finnovate issued an aggregate of 4,237,499 (the “Sponsor Shares”) of Finnovate’s Class A Ordinary Shares to the Sponsor upon the conversion of an equal number of shares of Finnovate Class B Ordinary Shares (the “Sponsor Conversion”). The Sponsor is controlled by its general partner, Sunorange Limited, and Mr.Kung and Mr.Wong serve as the sole