Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 404

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 404
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 pro rata portion of the funds in Finnovate’s Trust Account. These shares were redeemed for approximately US$10.50 per share for a total redemption value paid from the Trust Account of approximately US$132,616,922. In connection with the 2023 EGM and pursuant to the Investment Agreement, Sunorange will contribute to Finnovate loans (the “Loans”) of the lesser of (x) US$100,000 or (y) US$0.033 for each Finnovate Public Share that is not redeemed (such amount, the “Monthly Amount”) for each calendar month (commencing on May 8, 2023 and ending on the 8 thday of each subsequent month), or portion thereof, that is needed by Finnovate to complete an initial business combination until May 8, 2024. The Loans bear no interest and are due and payable upon the earlier to occur of (i) the date on which Finnovate consummates its business combination and (ii) the date that the winding up of Finnovate is effective. At the election of the Sponsor, up to US$1,200,000 of the unpaid principal amount of the Note may be converted into warrants of Finnovate (the “Conversion Warrants”), each warrant being identical to the Finnovate Private Warrants issued in the Finnovate IPO at a conversion price of US$1.00 per warrant. The Conversion Warrants are entitled to certain registration rights. On May 8, 2023, Sunorange caused US$300,000 to be deposited into the Trust Account to support the first three months of the extension from May 9, 2023 through August 8, 2023. Sunorange agreed to deposit into the Trust Account an additional US$100,000 for each successive month, or portion thereof, that is needed by Finnovate to complete an initial business combination until May 8, 2024. On May 2, 2024, we held an extraordinary general meeting in lieu of an annual general meeting of shareholders (the “2024 EGM”) to amend the Finnovate Articles to approve the extension of the date by which the Company has to consummate an initial business combination from May 8, 2024 to November 8, 2024 (the “Second Extension Amendment”). There were 9,085,832 of our Ordinary Shares issued and outstanding on April 4, 2024, the record date for the