Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 418

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 418
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’s securities from Nasdaq and that trading in Finnovate’s securities would be suspended at the open of trading on November12, 2024 due to the Company’s failure to timely satisfy the terms of the Panel’s July3, 2024 decision (the “Decision”). 206 Sunorange Investment On April 27, 2023, we entered into the Investment Agreement with the Sponsor and Sunorange, pursuant to which Sunorange and its designees shall acquire partnership interests in the Sponsor and Class B ordinary shares directly held by certain of our directors, which combined interests will entitle Sunorange and its designees to receive 4,237,499 Class B Ordinary Shares (of which it acquired an economic interest in 3,557,813 Finnovate Class B Ordinary Shares) and 8,243,038 Finnovate Private Warrants (of which it acquired an economic interest in 6,160,000 Finnovate Private Warrants), and we shall introduce a change in management and the Board as follows: (i) Calvin Kung shall replace David Gershon as Chairman of the Board and Chief Executive Officer and Wang Chiu (Tommy) Wong shall replace Ron Golan as Chief Financial Officer and director on the Board, effective upon closing of the Sunorange Investment; (ii) Jonathan Ophir and Uri Chaitchik shall tender their resignations as Chief Investment Officer and Senior Consultant, respectively, effective upon closing of the Sunorange Investment; and (iii) Mitch Garber, Gustavo Schwed and Nadav Zohar shall tender their resignations as directors, to be effective upon expiration of the Waiting Period and whose vacancies shall be filled by new management. On May 8, 2023, we completed the closing of the Sunorange Investment after our shareholders approved of certain proposals discussed below, and after certain closing conditions were met, including but not limited to: (i) a minimum of US$30 million remaining in the Trust Account after accounting for all redemptions in connection with the 2023 EGM; (ii) us obtaining or extending a directors and officers insurance policy on terms satisfactory to the parties; (iii) the conversion of Class B ordinary shares into Class A ordinary shares as needed to retain shareholders and meet continued listing requirements of Nasdaq in the event that the Extension is approved; (iv) the amendment of the Sponsor’s existing limited partnership agreement; (v) the transfer of 61,875 Class B ordinary shares from certain of our directors to Sunorange or