Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 300

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 300
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 investigation; and (11) exclusivity of representations and warranties. None of the representations and warranties of the parties shall survive the Closing. 130 Covenants of the Parties Each party agreed in the Business Combination Agreement to use its commercially reasonable efforts to effect the Closing. The Business Combination Agreement contains certain customary covenants by each of the parties during the period between the signing of the Business Combination Agreement and the earlier of the Closing or the termination of the Business Combination Agreement in accordance with its terms, including covenants regarding: (1) the provision of access to their properties, books and personnel; (2) the operation of their respective businesses in the ordinary course of business; (3) provision of financial statements of Target Companies; (4) Finnovate’s public filings; (5) “no shop” obligations; (6) no insider trading; (7) notifications of certain breaches, consent requirements or other matters; (8) efforts to consummate the Closing and obtain third party and regulatory approvals and efforts to cause PubCo to maintain its status as a “foreign private issuer” under the Exchange Act; (9) further assurances; (10) public announcements; (11) confidentiality; (12) indemnification of directors and officers and tail insurance; (13) use of trust proceeds after the Closing; (14) efforts to support a private placement or backstop arrangements, if sought; (15) intended tax treatment of the Mergers and (16) use of trust account proceeds. Scage International agreed to use commercially reasonable efforts to consummate the Reorganization by September 30, 2023. The Company agreed to deliver the audited financial statements of Scage International for the fiscal years ended June 30, 2022 and June 30, 2023 to Finnovate by September 30, 2023. Scage International agreed to cause its subsidiaries to use commercially reasonable efforts to ensure the sustainability of the collaboration with its cooperative manufacturers for its new energy road vehicles and off -roadvehicles manufacturing and enter into definitive contracts with its cooperative manufacturers as soon as practicable. PubCo shall be responsible for paying the SPAC Transaction Expenses in an amount up to US$9,000,000, subject to certain exclusions, if the Closing Date occurs prior to February 29, 2024. Scage International also agreed to cause all of the Scage International shareholders to each enter into a Lock -UpAgreement. In addition, the parties agreed to take all necessary actions to cause Pub