Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 427

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 427
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 Account to pay dissolution expenses, should Finnovate ultimately liquidate prior to an initial business combination (the “ Dissolution Expense Waiver”). As a result, Finnovate will not withdraw up to $50,000 out of up to $100,000 of interest, as permitted by its Existing Charter, for such dissolution expenses upon liquidation. Only up to $50,000 of interest, to the extent accrued, will be released to the Company to pay dissolution expenses, and the balance of any interest then -accruedwill be held in the trust account and will be released to public shareholders upon the earliest to occur of (i) the redemption of the Public Shares in connection with a vote seeking to amend the provisions of the Existing Charter, (ii) the completion of Finnovate’s initial business combination and (iii) the redemption of 100% of the Public Shares if Finnovate is unable to complete its initial business combination by May8, 2025 or such earlier date as determined by the Finnovate Board. Sponsor Distribution On January3, 2025, the Sponsor consummated a distribution of its assets in accordance with its governing documents, which included the distribution of 4,237,499 Finnovate Class A Ordinary Shares, 1 Finnovate Class B Ordinary Share and 8,243,038 Finnovate Private Warrants then held by the Sponsor to its constituent members (the “Sponsor Distribution”). Following the Sponsor Distribution, the Sponsor no longer holds any Finnovate securities acquired by the Initial Shareholders. As of the Record Date, Sunorange Limited has voting and dispositive power over one (1) Finnovate Class B Ordinary Share. In the Sponsor Distribution, Mr.Kung received 25,000 Finnovate Class A Ordinary Shares, Mr.Wong received 226,153 Finnovate Class A Ordinary Shares, of which 15,000 Class A Ordinary Shares were distributed to Mr.Wong in his personal capacity and 211,153 Class A Ordinary Shares were distributed to Sun Tone Limited, for which Mr.Wong is sole owner and director. Mr.Wong also received 464,964 Private Warrants through Sun Tone Limited. While the recipients of Finnovate securities in the Sponsor Distribution agreed to remain subject to the lock -uprestrictions, distributees who are not Sponsor Parties are not required to vote their shares in favor of the Business Combination. Prior to the Closing of the Business Combination, Finnovate and Scage International may release certain PubCo Ordinary