Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 297

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 297
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. For the purposes of the summary of the Business Combination Agreement, the following terms shall have the meanings set forth below: “Aggregate Merger Consideration Amount” means (a) Eight Hundred Million (US$800,000,000) minus (b) if Closing Net Debt is a positive number, the amount of Closing Net Debt, plus (c) if Closing Net Debt is a negative number, the absolute value of the amount of Closing Net Debt. “Closing Net Debt” means, as of the Reference Time, (i) the aggregate Indebtedness of the Target Companies, less (ii) the Closing Company Cash, in each case of clauses (i) and (ii), on a consolidated basis and as determined in accordance with the Accounting Principles. “Exchange Ratio” means (i) the Company Merger Shares as of the First Merger Effective Time divided by (ii) the aggregate number of, without duplication, Company Ordinary Shares that are (i) issued and outstanding, and (ii) issuable directly or indirectly upon, or subject to, the conversion, exercise or settlement of any Company Preferred Shares and Company Convertible Securities. “Company Merger Shares” means a number of PubCo Ordinary Shares, in the form of PubCo ADSs, equal to the quotient determined by dividing (a) the Aggregate Merger Consideration Amount by (b) the Per Share Price. “Per Share Price” means the Redemption Price, which shall be no less than the par value of ordinary shares of the Purchaser. “Redemption Price” means an amount equal to the price at which each Purchaser ordinary share is redeemed or converted pursuant to the Redemption (as equitably adjusted for share sub -divisions, share dividends, consolidations, capitalizations, re -designationsand the like after the Closing). Scage Reorganization Prior to the execution and delivery of the Business Combination Agreement, Nanjing Scage, a company incorporated in the PRC as a company with limited liability, the Founder and other relevant parties had entered into certain agreements (together with all agreements, instruments or other documents as may be necessary or appropriate, the “Reorganization Documents”) to implement and effect the reorganization, including the issuance 129 of shares by and of Scage International to Nanjing Scage’s shareholders (or their designees), the acquisition of all shares and assets of Nanjing Scage by Scage International (or its wholly -ownedsubsidiaries) pursuant to the terms and conditions of the Reorganization Documents (the “