Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 265

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 265
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age International’s financial performance for the quarter ended June 30, 2023. On August 18, 2023, the Finnovate Board convened a virtual meeting. The meeting began with Mr. Kung further summarizing Scage International’s business and the Initial Projections, including an analysis of challenges facing the transportation industry and how Scage International’s solutions for addressing these challenges. Finnovate’s legal counsel gave brief presentations to the Finnovate Board regarding (i) the terms of the Business Combination Agreement and the transactions contemplated thereby and (ii) the fiduciary duties of directors when considering whether to authorize a potential business combination transaction. Following the description of Scage International’s business model to the Finnovate Board by Finnovate’s management, the Finnovate Board ultimately determined that while based on the same financial projections and inputs, ValueScope’s financial analysis with respect to Scage International’s financial projections was critical to the totality of Finnovate Board’s recommendation to approve the Business Combination. ValueScope’s methodology was more sophisticated and drew on a much larger data set than the analysis that Finnovate management had previously prepared. Finnovate Board therefore utilized ValueScope’s financial analysis with respect to Scage International’s business in deciding to approve the Business Combination. On August 18, 2023, ValueScope sent an updated Fairness Opinion to Finnovate management, reflecting minor revisions from Finnovate’s legal counsel. This revised and signed final Fairness Opinion was shared with the Finnovate Board on August 20, 2023. On August 21, 2023, Finnovate Board convened another meeting along with Finnovate’s legal counsel. After review and discussion, including questions from members of the Finnovate Board posed to legal counsel and to Finnovate management, the Finnovate Board approved the proposed final version of the Business Combination Agreement and the transactions contemplated thereby and recommended that Finnovate’s shareholders adopt and approve in all respects the Business Combination Agreement and the transactions contemplated thereby. On August 21, 2023, Finnovate and Scage International executed the Business Combination Agreement and the applicable Ancillary Agreements. Since the date that the Business Combination Agreement was executed, the parties have held, and expect to continue to hold, regular discussions regarding the timing of consummating the Business Combination and various preparatory efforts in connection therewith. On August 29, 2023, Finnovate signed the amended and restated version of Finder’s Agreement with