Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 285

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 285
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 found ValueScope’s quotation to be reasonable and were impressed by ValueScope’s body of work. The fees paid or payable to ValueScope for the Initial Opinion totalled $80,000, excluding services provided between rendering the Initial Opinion and the Second Opinion, for which fees accrue based on time spent. The fees paid or payable to ValueScope for the Second Opinion totalled $19,055. Additional fees accrued to ValueScope between the time of the Initial Opinion and the Second Opinion. These fees covered ValueScope’s time spent reviewing draft disclosure, providing insight on the impact of market conditions on valuation, and discussing the procedural requirements of ValueScope’s valuation methodologies with Finnovate and Scage representatives. ValueScope has no prior relationships with Finnovate or Scage International. The ValueScope analysis confirmed the valuation determined by Finnovate’s management prior to finalization of the Business Combination Agreement and the fairness of the consideration offered to Scage International in the Business Combination. Opinions of ValueScope as Financial Advisor to Finnovate Summary of Opinions On October 31, 2023, ValueScope rendered its initial opinion (the “Initial Opinion”) to the Finnovate Board to the effect that, as of the initial valuation date of June 30, 2023 (the “Initial Valuation Date”), the Aggregate Merger Consideration Amount to be issued by Finnovate in the Business Combination was fair, from a financial point of view, to Finnovate. For purposes of its financial analyses, with Finnovate’s consent, ValueScope assumed that the Aggregate Merger Consideration Amount per the Business Combination Agreement would have a value equal to US$1,000,000,000 minus the net debt amount at Closing. 122 On June17, 2024, ValueScope rendered its second opinion (the “Second Opinion”) to the Finnovate Board to the effect that as of the second valuation date of December 31, 2023 (“the Second Valuation Date”), the Aggregate Merger Consideration Amount to be issued by Finnovate in the Business Combination was fair, from a financial point of view, to Finnovate. For purposes of its financial analyses, with Finnovate’s consent, ValueScope assumed that the Aggregate Merger Consideration Amount per the Business Combination Agreement would have a value equal to US$800,000,000 minus the net debt amount at Closing. This summary of ValueScope’s opinions is qualified and should be read in conjunction with the full text of ValueScope’s opinions