Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 621

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 621
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2023 Promissory Note is non -interestbearing and is due at the earlier of consummation of the Business Combination or liquidation. Prior to the November 2023 Promissory Note being in place, related parties were making advances to the Company and on behalf of the Company for the purposes of paying its vendors. All advances made by the related parties between May 8, 2023 and the date of execution are retroactively covered by the November 2023 Promissory Note. As of September 30, 2024 and December 31, 2023, $1,193,961 and $542,503, respectively, was outstanding under the November 2023 Promissory Note. On May15, 2024, the Company issued the May 2024 Promissory Note in the aggregate principal amount of up to $225,000 to the Sponsor, which will be deposited into the Trust Account for the benefit of each Public Share that was not redeemed in connection with the May8, 2024shareholder vote to approve the May 2024 Extension. The Sponsor agreed to pay $37,500 per month until the completion of an initial Business Combination, commencing on May8, 2024 and continuing through November8, 2024. As of September30, 2024 and December31, 2023, the balance outstanding on the May 2024 Promissory Note was $187,500 and $0, respectively. On November11, 2024, the Company issued the November 2024 Note in the aggregate principal amount of up to $259,588 to the Sponsor, which will be deposited into the Trust Account for the benefit of each Public Share that was not redeemed in connection with the November 2024 Extension. The Sponsor agreed to pay $43,264.60 per month until the completion of an initial Business Combination, commencing on November8, 2024 and continuing through May8, 2025. The November 2024 Note bears no interest and is due and payable upon the earlier to occur of (i) the date on which we consummate our Business Combination and (ii) the date that our winding up is effective. As of January6, 2025, the Company had deposited $86,670 (including $140.80 of applicable interest) into the Company’s Trust Account. F-71 FINNOVATE ACQUISITION CORP.
NOTES TO CONDENSED FINANCIAL STATEMENTS