Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 284

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 284
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 that some of the assumptions underlying the projections would not materialize. Since the financial projections cover multiple years, that information by its nature becomes less predictive with each successive year. Scage International has not warranted the accuracy, reliability, appropriateness or completeness of the financial projections to anyone, including Finnovate. Neither Scage International’s management nor Scage International representatives has made or makes any representations to any person regarding the ultimate performance of Scage International relative to the financial projections. The financial projections are not fact nor a guarantee of actual future performance. The future financial results of Scage International may differ materially from those expressed in the financial projections due to factors beyond Scage International’s ability to control or predict. Scage International has affirmed to Finnovate that while there are differences between the Updated Projections for fiscal 2024 and the actual revenue for the fiscal year ended June30, 2024, these discrepancies are primarily due to short -termchanges in sales composition. Specifically, the actual number of vehicles delivered was 8% lower than projected, and actual revenue recognized excluded the batteries contained in the sold vehicles, which resulted in actual sales recorded as 20% -30% lower than what was projected. Based on current sales contracts for deliveries in 2025, Scage International’s management believes that these short -termvariations will not affect future revenue forecasts or anticipated sales prices. The Updated Projections continue to reflect the assessment of Scage International’s management and board of directors regarding expected performance for the fiscal years ending June30, 2025, 2026, and 2027 as of September30, 2024, the most recent practicable date prior to the date of this proxy statement/prospectus. Engagement of ValueScope as Financial Advisor to Finnovate Although Finnovate management did not have specific experience in Scage International’s sector, Finnovate management concluded that their experience and background operating and investing in companies enabled them to make the necessary analysis and determinations regarding the Business Combination. In June 2023, Finnovate initiated discussions with ValueScope, Inc. (“ValueScope”) to retain ValueScope as its financial advisor to conduct a fairness analysis. Finnovate management was introduced to ValueScope through mutual acquaintances who serve as Finnovate directors. Notably, Mr. Chunyi (Charlie) Hao and Mr. Sanjay Prasad were familiar with ValueScope’s work having reviewed an opinion rendered by ValueScope regarding the fairness of the merger consideration for another transaction. Finnovate’s management