Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 216

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 216
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 fraud. Measures to remediate material weaknesses may be time -consumingand costly and there is no assurance that such initiatives will ultimately have the intended effects. If Finnovate identifies any new material weaknesses in the future, any such newly identified material weakness could limit our ability to prevent or detect a misstatement of Finnovate’s accounts or disclosures that could result in a material misstatement of its annual or interim financial statements. In such case, Finnovate may be unable to maintain compliance with securities law requirements regarding timely filing of periodic reports in addition to applicable stock exchange listing requirements, investors may lose confidence in our financial reporting and adversely affect Finnovate’s business and operating results. Finnovate cannot assure you that the measures it has taken to date, or any measures it may take in the future, will be sufficient to avoid potential future material weaknesses. Finnovate’s financial statements contain disclosure regarding the substantial doubt about Finnovate’s ability to continue as a “going concern.” As of June30, 2024, Finnovate had US$35,523 in its operating bank account and working capital deficit of US$4,048,517. Further, Finnovate has incurred and expects to continue to incur significant costs in pursuit of its financing and acquisition plans, including the Business Combination. Finnovate cannot assure you that its plans to raise capital or to consummate an initial business combination, including the Business Combination, will be successful. These factors, among others, raise substantial doubt about its ability to continue as a going concern. The financial statements contained elsewhere in this proxy statement/prospectus do not include any adjustments that might result from its inability to consummate the Business Combination or its inability to continue as a going concern. If Finnovate requires Finnovate Public Shareholders who wish to redeem their Finnovate Public Shares to comply with the delivery requirements for redemption, such shareholders may be unable to sell their securities when they wish to if the Business Combination is not approved. If Finnovate requires Finnovate Public Shareholders who wish to redeem their Finnovate Public Shares to comply with specific delivery requirements for redemption and such proposed business combination is not consummated, Finnovate will promptly return such certificates to the applicable Finnovate Public Shareholders. Accordingly, investors who attempted to redeem their shares in such a circumstance will be unable to sell their securities after the failed acquisition until Finnovate has returned their securities to them. The market price for Finnovate’s shares may decline during this time and Finnov