Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 569

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 569
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|:------------------------------------|:----|:---------------|--------:|:--|:----|:-----|--------:|:--|
| Total convertible debt, current     |     | $              | 872,003 |   |     | $    |       — |   |
| Non-current                         |     |                |         |   |     |      |         |   |
| Debt from Shenzhen Deju             |     | $              |       — |   |     | $    | 875,016 |   |
| Less: Debt issuance costs           |     |                |       — |   |     |      | (11,071 | ) |
| Total convertible debt, non-current |     | $              |       — |   |     | $    | 863,945 |   |

Debt from Shenzhen Deju In December 2021, the Group entered into a debt agreement with Shenzhen Deju Brothers No.2 Enterprise Management Partnership (“Shenzhen Deju”), pursuant to which Shenzhen Deju would provide US$891,352 (RMB6,345,000) of debt which can be converted into 755,383shares of Series A Convertible Redeemable Preferred Shares at US$1.18 per share in the form of warrant at Shenzhen Deju’s request. The warrant in nature is a conversion option of the debt, which can be exercised once Shenzhen Deju completes the foreign exchange registration procedures for Overseas Direct Investment (“ODI”) under State Administration for Foreign Exchange (“SAFE”) requirements. The debt must be repaid by the Group to Shenzhen Deju in full either in cash or in certain amount of Series A Convertible Redeemable Preferred Shares converted at US$1.18 per share upon maturity date. The Group is obligated to pay interests at 3% simple interest per annum accrued from the remittance date to the earlier maturity date of: (i) ten years after Shenzhen Deju remitting the debt, or (ii) two months after the Shenzhen Deju exercising the warrant. On February 13, 2023, the Group entered into a settlement agreement with Shenzhen Deju, pursuant to which the maturity date was amended to the earlier of (i) October 1, 2023, or (ii) two months after Shenzhen Deju exercising the warrant. And Shenzhen Deju had the option (i) to require the Group to repay the principal amount of the debt plus interest or