Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 36

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 36
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 2024, Finnovate notified the Panel that it would not be able to close its initial business combination by the Panel’s November4, 2024 deadline. Accordingly, the Panel has determined to delist Finnovate’s securities from Nasdaq as set forth in the Notice Letter. Since November12, 2024, Finnovate’s securities have been suspended from trading on Nasdaq and have subsequently been quoted on the OTC Markets. Q.What will happen in the Business Combination? A.Pursuant to the Business Combination Agreement, the Business Combination (as defined below) will be effected in two steps. Subject to the approval and adoption of the Business Combination Agreement by the shareholders of Finnovate, on the Closing Date: (1) Merger Sub I will merge with and into Scage International (the “First Merger”), with Scage International surviving the First Merger as a wholly -ownedsubsidiary of PubCo (the time at which the First Merger becomes effective is sometimes referred to herein as the “First Merger Effective Time”); and (2) immediately following the First Merger, Merger Sub II will merge with and into Finnovate (the “Second Merger” and, together with the First Merger, the “Mergers,” and together with all xiv other transactions contemplated by the Business Combination Agreement, the “Business Combination”), with Finnovate surviving the Second Merger as a wholly owned subsidiary of PubCo (the time at which the Second Merger becomes effective is referred to herein as the “Effective Time”). On the Closing Date and immediately prior to the First Merger Effective Time, each Company Preferred Share, that is issued and outstanding immediately prior to the First Merger Effective Time shall be cancelled in exchange for the right to receive a number of Company Ordinary Shares, at the then -effectiveconversion rate in accordance with Scage International’s amended and restated articles of association (the “Conversion”). At the First Merger Effective Time, pursuant to the First Merger, (1) each Company Ordinary Share that is issued and outstanding immediately prior to the First Merger Effective Time and after the Conversion shall, as of the First Merger Effective Time, be cancelled and converted into the right to receive a number of PubCo Ordinary Shares at the Exchange Ratio (as defined in the Business Combination Agreement) in the form of PubCo ADSs; (2) any Company Convertible Securities (as defined in the Business Combination Agreement), to the extent then outstanding and unexerc