Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 431

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 431
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 Investment, the Working Capital Loan and all amounts outstanding thereunder were cancelled in full. This was deemed to be a benefit to us under SAB Topic 5T. In order to recognize this benefit, we de -recognizedthe outstanding promissory note and reclassified it to additional paid -incapital, as an in -substancecapital contribution. On November8, 2023, we issued the November 2023 Promissory Note in the principal amount of up to $1,500,000 to Sunorange. The November 2023 Promissory Note was issued in connection with advances made by Sunorange since May8, 2023 and advances Sunorange may make in the future to us for working capital expenses. The November 2023 Promissory Note is non -interestbearing and payable upon the earlier of (i) the date of the consummation of the Business Combination or (ii) the date of our liquidation. As of June30, 2024 we had $974,210 outstanding under the November 2023 Promissory Note. On January26, 2024, we issued the January 2024 Promissory Note in the aggregate principal amount of up to $1,500,000 to Scage, for the Company’s working capital needs, including but not limited to any payment obligations to support the Extension. The note does not bear interest and matures upon the earlier of the closing of an initial Business Combination by the Company and the Company’s liquidation. As of June30, 2024, we had $200,000 outstanding under the January 2024 Promissory Note. On May 15, 2024, the Company issued an unsecured promissory note (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 an extension of the Company’s termination date from May 8, 2024 to November8, 2024 (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 November 8, 2024. The May 2024 Promissory Note bears no interest and is due and payable upon the earlier to occur of (