Company: SCAG
Filing Date: 2025-11-12
Form Type: 20-F
Source: 0001213900-25-109190
Chunk: 68

Company: Scage Future
Filing Date: 2025-11-12
Form: 20-F
Item: Item 3
Chunk 68
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 Holders
of our securities are strongly encouraged to consult their tax advisors regarding the potential application of these rules to us and
the ownership of our securities.

If Company ADSs or the Company Warrants
are not eligible for deposit and clearing within the facilities of the Depository Trust Company, then transactions in the Company ADSs
or the Company Warrants may be disrupted.

The facilities of the Depository
Trust Company (“ DTC”) are a widely used mechanism that allow for rapid electronic transfers of securities between the participants
in the DTC system, which include many large banks and brokerage firms. We expect that Company ADSs and the Company Warrants will be eligible
for deposit and clearing within the DTC system. We expect to enter into arrangements with DTC whereby we will agree to indemnify DTC
for stamp duty that may be assessed upon it as a result of its service as a depository and clearing agency for the Company ADSs and the
Company Warrants. We expect these actions, among others, will result in DTC agreeing to accept the Company ADSs and the Company Warrants
for deposit and clearing within its facilities.

DTC is not obligated to accept
Company ADSs or the Company Warrants for deposit and clearing within its facilities in connection with the listing, and even if DTC does
initially accept Company ADSs or the Company Warrants, it will generally have discretion to cease to act as a depository and clearing
agency for Company ADSs or the Company Warrants.

If DTC determines prior to
the consummation of the Business Combination that Company ADSs or the Company Warrants are not eligible for clearance within the DTC
system, then we would not expect to consummate the Business Combination or the listing contemplated by this report in its current form.
However, if DTC determines at any time after the completion of the transactions and the listing that Company ADSs or the Company Warrants
were not eligible for continued deposit and clearance within its facilities, then we believe that Company ADSs or Company Warrants would
not be eligible for continued listing on a U. S. securities exchange and trading in the securities or warrants would be disrupted. While
we would pursue alternative arrangements to preserve its listing and maintain trading of its securities, any such disruption could have
a material adverse effect on the market price of Company ADSs and the Company Warrants.

ITEM 4. INFORMATION ON THE COMPANY