Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 302

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 302
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ate or PubCo shall have consolidated net tangible assets of at least US$5,000,001 (as calculated and determined in accordance with Rule 3a51 -1(g)(1) of the Exchange Act) either immediately prior to the Closing (after giving effect to the Redemption) or upon the Closing after giving effect to the Mergers (including the Redemption), or PubCo otherwise is exempt from the provisions of Rule 419 promulgated 131 under the Exchange Act (i.e., one of several exclusions from the “penny stock” rules of the SEC applies and Finnovate relies on another exclusion); (6) amendment by the shareholders of PubCo of PubCo’s memorandum and articles of association; (7) the effectiveness of the Registration Statement; (8) appointment of the post -closingdirectors of PubCo; and (9) Nasdaq listing requirements having been fulfilled. In addition, unless waived by Scage International, the obligations of Scage International, PubCo, Merger Sub I and Merger Sub II to consummate the Transactions are subject to the satisfaction of the following Closing conditions, in addition to customary certificates and other closing deliveries: (1) the representations and warranties of Finnovate being true and correct on and as of the Closing (subject to Material Adverse Effect); (2) Finnovate having performed in all material respects its obligations and complied in all material respects with its covenants and agreements under the Business Combination Agreement required to be performed or complied with by it on or prior the date of the Closing; (3) absence of any Material Adverse Effect with respect to Finnovate since the date of the Business Combination Agreement which is continuing and uncured; (4) the cash proceeds from the PIPE Investment shall be not less than an aggregate of US$15,000,000; (5) receipt by Scage International PubCo of the Amended and Restated Registration Rights Agreement; (6) each of Scage International’s shareholders shall have received from PubCo a registration rights agreement covering the merger consideration shares received by Scage International’s shareholders duly executed by PubCo; and (7) receipt by Scage International and PubCo of employment agreements between certain management persons from Scage International and the Company or Finnovate, in each case effective as of Closing. Unless waived by Finnovate, the obligations of Finnovate to consummate the Transactions are subject to the satisfaction of the following Closing conditions, in addition to customary certificates and other closing deliveries: