Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 483

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 483
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 not take positions concerning the tax consequences of the Business Combination that are different from those discussed below, or that any such different positions would not be sustained by a court. ALL HOLDERS OF FINNOVATE SECURITIES AND COMPANY ORDINARY SHARES SHOULD CONSULT WITH THEIR TAX ADVISORS REGARDING THE TAX CONSEQUENCES OF THE BUSINESS COMBINATION AND CONSIDERATIONS RELATING TO THE OWNERSHIP AND DISPOSITION OF PUBCO ADSs AND ASSUMED WARRANTS, INCLUDING THE EFFECTS OF U.S. FEDERAL, STATE, AND LOCAL AND NON -U.S. TAX LAWS. U.S. Holders The section applies to you if you are a U.S. holder. For purposes of this discussion, a U.S. holder means a beneficial owner of Finnovate securities, Company Ordinary Shares, PubCo ADSs or Assumed Warrants that is, for U.S. federal income tax purposes: •an individual who is a citizen or resident of the United States; •a corporation (or other entity taxable as a corporation for U.S. federal income tax purposes) created or organized in or under the laws of the United States, any state thereof or the District of Columbia; •an estate whose income is subject to U.S. federal income tax regardless of its source; or •a trust if (1) a U.S. court can exercise primary supervision over the trust’s administration and one or more U.S. persons are authorized to control all substantial decisions of the trust; or (2) the trust has a valid election in effect under applicable Treasury Regulations to be treated as a U.S. person. The Business Combination Tax Consequences of the Business Combination This section is subject to the discussion below under “—Application of the Passive Foreign Investment Company Rules to the Business Combination.” It is the opinion of Finnovate’s counsel, Ellenoff Grossman & Schole LLP, that the Business Combination will qualify as an exchange described in Section 351(a) of the Code. However, there can be no assurance that the IRS will not successfully challenge this position, and if so then the exchange of Finnovate Ordinary Shares or Company Ordinary Shares for PubCo ADSs will be a taxable exchange, and the tax consequences described herein will be materially different from those described below. The remainder of this discussion assumes that the transactions described above qualify as an exchange described in Section 351(a) of the Code. In rendering this opinion, counsel may require and rely upon representations contained in letters and certificates to be received from Finnov