Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 119

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 119
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ufeng Investment Partnership (“Gongqingcheng Lanyan”), pursuant to which, Gongqingcheng Lanyan would provide US$716,412 (RMB5,100,000) of debt and the Group would issue a warrant to Gongqingcheng Lanyan to purchase 607,129shares of Series A convertible redeemable preferred shares of Scage International (the “Series A Convertible Redeemable Preferred Shares”) at the price of US$1.18 per share. The warrant can be exercised once Gongqingcheng Lanyan completes the foreign exchange registration procedures for Overseas Direct Investment (“ODI”) under State Administration for Foreign Exchange (“SAFE”) requirements. Upon the exercise of the warrant, the debt must be repaid by the Group to Gongqingcheng Lanyan in full and Gongqingcheng Lanyan will pay the warrant exercise price to the Group. The Group is obligated to pay interest at 3% simple interest per annum if Gongqingcheng Lanyan does not exercise warrant before the maturity of the debt. The maturity date was the earlier of (1) two years after Gongqingcheng Lanyan remitting the debt, or (2) two months after Gongqingcheng Lanyan exercising the warrant. The Group received US$716,412 (RMB5,100,000) of debt from Gongqingcheng Lanyan in January 2022. In September 2022, Gongqingcheng Lanyan entered into the Series A convertible redeemable preferred shares investment agreement with the Group, pursuant to which the Group would issue a total of 1,190,449shares of Series A Convertible Redeemable Preferred Shares to Gongqingcheng Lanyan for an additional cash consideration of US$672,246 (RMB4,900,000) together with the cancellation of the outstanding debt of US$716,412 (RMB5,100,000) that was previously received in January 2022. Gongqingcheng Lanyan made the payment of US$672,246 (RMB4,900,000) as the additional investment consideration to the Group in November 2022. In connection with the signing of the Series A convertible redeemable preferred shares investment agreement, the debt from Gongqingcheng Lanyan of US$716,412 (RMB5,100,000) was cancelled and deemed to be converted to the Series A Convertible Redeemable Preferred Shares and the warrant was cancelled concurrently. Debt from Shenzhen Deju In December