Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 80

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 80
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 policy on terms satisfactory to the parties, (iii) the conversion of Class B ordinary shares into Class A ordinary shares as needed to retain shareholders and meet continued listing requirements of Nasdaq following the extension of Finnovate’s term; (iv) the amendment of the Sponsor’s existing limited partnership agreement; (v) the transfer of 61,875 Class B ordinary shares from certain Finnovate directors to Sunorange or its designees; and (vi) the cancellation of an outstanding US$550,000 loan from the Sponsor and the reduction of certain advisory fees to be due upon the closing of an initial business combination. The Sponsor is controlled by its general partner, Sunorange Limited, and Mr.Kung and Mr.Wong serve as the sole directors of Sunorange Limited. On January3, 2025, the Sponsor consummated a distribution of its assets in accordance with its governing documents, which included the distribution of 4,237,499 Finnovate Class A Ordinary Shares, 1 Finnovate Class B Ordinary Share and 8,243,038 Finnovate Private Warrants then held by the Sponsor to its constituent members (the “Sponsor Distribution”). Following the Sponsor Distribution, the Sponsor no longer holds any Finnovate securities acquired by the Initial Shareholders. As of the Record Date, Sunorange Limited has voting and dispositive power over one (1) Finnovate Class B Ordinary Share. In the Sponsor Distribution, Mr.Kung received 25,000 Finnovate Class A Ordinary Shares, Mr.Wong received 226,153 Finnovate Class A Ordinary Shares, of which 15,000 Class A Ordinary Shares were distributed to Mr.Wong in his personal capacity and 211,153 Class A Ordinary Shares were distributed to 3 Sun Tone Limited, for which Mr.Wong is sole owner and director. Mr.Wong also received 464,964 Private Warrants through Sun Tone Limited. As general partner of the Sponsor, Sunorange coordinates and authorizes the Sponsor’s financing arrangements with Finnovate, including all loans provided to Finnovate. It has also contributed significant capital at risk as lender to Finnovate of approximately $2.4million under the June 2023 Note, the November 2023 Note and the November 2024 Note, as described above. In connection with the closing of the Sunorange Investment, on May8, 2023, Sunorange caused US$300,000 to be deposited into the Trust Account to support the first three months of the