Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 421

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 421
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 the Finnovate Ordinary Shares that are outstanding. Scage Business Combination On August 21, 2023, we and Scage International entered into the Business Combination Agreement. Scage International is a zero -emissionsolution provider in China, focusing on the development and commercialization of heavy -dutyNEV trucks and e -fuelsolutions. Upon consummation of the Business Combination, PubCo will seek to be listed on Nasdaq. The outstanding securities of Scage International and us will be converted into the right to receive securities of PubCo. The transaction represents a post -combinationvaluation of US$1.0 billion (US$1,000,000,000) for Scage International upon closing of the Business Combination, subject to adjustment. Simultaneously with the execution of the Business Combination Agreement, we entered into the Key Seller Lock -UpAgreement, Shareholder Support Agreement, Sponsor Support Agreement, Insider Letter Amendment, and Non -Competitionand Non -SolicitationAgreement and prior to the Closing, we will enter the Assignment, Assumption, and Amendment to Warrant Agreement. For a full description of the Business Combination Agreement, the transactions contemplated therein, and the Business Combination, please see our Current Report on Form 8 -Kfiled with the SEC on August 25, 2023. On August 29, 2023, the Company engaged a third -partyconsultant to provide the Company with an introduction to potential targets for its Business Combination. Pursuant to the terms of the agreement, as amended and restated on October13, 2024, the Company has agreed to pay a contingent fee of 0.05% of the implied enterprise value of the target if the Company consummates a Business Combination. On June18, 2024, the parties to the Business Combination Agreement entered into the First Amendment to Business Combination Agreement. The amendment provides for, among other things, the: •reduction of the aggregate consideration to the shareholders of Scage International from $1,000,000,000 to $800,000,000; •correction of a scrivener’s error to clarify that Scage International is not an investment company; •the establishment of the ADS Facility by PubCo so that each of the ordinary shares to be issued by PubCo pursuant to the Business Combination Agreement may be represented by PubCo ADSs; •extension of the deadline for the Reorganization (as defined in the Business Combination Agreement) from September30, 2023 to July