Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 192

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 192
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 the waiver of the business opportunities doctrine in the Finnovate Articles did not impact Finnovate’s search for an acquisition target. The personal and financial interests of the Sponsor as well as Finnovate’s directors and officers may have influenced their motivation in identifying and selecting Scage International a business combination target, completing an initial business combination with Scage International, and influencing the operation of the business following the initial business combination. In considering the recommendations of Finnovate’s board of directors to vote for the proposals, its shareholders should consider these interests. The Sponsor Parties paid nominal consideration for the Founder Shares they acquired. As a result, the Sponsor may make a substantial profit if the Business Combination is consummated, even if the shares held by Finnovate’s Public Shareholders lose substantial value. For this reason, the Sponsor Parties may have a strong economic incentive to approve and complete the Business Combination, even if the Business Combination arguably may not be in the best interests of Finnovate’s Public Shareholders. The Sponsor Parties will lose their entire investment (and potentially any loans or expenses fronted by the Sponsor and its affiliates and permitted transferees) in Finnovate if Finnovate does not complete a business combination by May8, 2025 (unless extended by Finnovate’s shareholders, or such earlier time as the Finnovate Board determines). The Sponsor Parties’ investment in the Company consists of 4,299,375 Founder Shares for an aggregate of $25,000 (or $0.006 per share), all of which were distributed to the Sponsor’s constituent members in the Sponsor Distribution. Additionally, the Sponsor and its affiliates have provided loans to Finnovate in exchange for (i) the June 2023 Note in connection with the First Extension Amendment, (ii) the November 2023 Note for working capital needs, (iii) the May 2024 Note in connection with the Second Extension Amendment, in an aggregate amount of up to $2,925,000 (of which an aggregate of approximately US$2.5million was outstanding as of December31, 2024), and (iv) the November 2024 Note in connection with the Third Extension Amendment, in an aggregate amount of up to US$259,588 (of which an aggregate of approximately US$43,320 was outstanding as of December31, 2024). Additionally, the Sponsor Parties have accrued an aggregate of $88,100 reimbursable expenses through the Administrative Services Agreement as of December31, 2024.