Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 6

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 6
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 Overseas Listing Trial Measures regulate both direct and indirect overseas offering and listing of PRC domestic companies’ securities by adopting a filing -basedregulatory regime. Based on the Overseas Listing Trial Measures and the clarification issued by at a press conference held by CSRC, Scage International shall complete the filing procedures with the CSRC in connection with this Business Combination as required by the Overseas Listing Trial Measures for the listing of PubCo’s securities on Nasdaq. As of the date of this proxy statement/prospectus, Scage International has not completed the filing procedures with the CSRC. Neither PubCo nor Scage International can assure you that Scage International and its subsidiaries can complete the filing procedures in a timely manner or at all. If Scage International fails to complete required filing procedures for the Business Combination and the listing of PubCo’s securities on Nasdaq, Finnovate has the right to terminate the Business Combination Agreement in accordance with its terms, and the Business Combination may not be consummated. If Scage International violates or is deemed to have violated any current or future rules or regulations, regulatory agencies in China may impose fines and penalties on Scage International’s operations in China, limit its operating privileges in China, delay or restrict the repatriation of the proceeds from offshore fund -raisingactivities into the PRC or take other actions that could materially adversely affect Scage International’s business, financial condition and results of operations, as well as the trading price of PubCo ADSs following the consummation of the Business Combination. See “Risk Factors—Risks Related to Doing Business in China—The filing with the CSRC may be required in connection with the Business Combination, and Scage International cannot predict whether it will be able to obtain such approval or complete such filing.” Cash is transferred among Scage International, its offshore subsidiaries and its PRC subsidiaries, in the following manner: (1) funds are transferred to its PRC subsidiaries from Scage International as needed through Scage International’s subsidiaries outside China in the form of capital contributions or shareholder loans, as the case may be; and (2) dividends or other distributions may be paid by its PRC subsidiaries to Scage International through its subsidiaries outside China. Nanjing Scage and its subsidiaries generate and retain cash generated from operating activities and re -investit in its business. None of Scage International’s subsidiaries outside China has made distribution to its shareholders. In the future, following the completion of the Business Combination, PubCo’s ability to pay dividends, if any,