Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 214

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 214
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 market value of your Public Warrants. In the event PubCo determines to redeem the Public Warrants, holders of redeemable warrants would be notified of such redemption as described in the Warrant Agreement. Specifically, in the event that PubCo elects to redeem all of the redeemable warrants as described above, PubCo will fix a date for the redemption (“Warrant Redemption Date”). Notice of redemption will be mailed by first class mail, postage prepaid, by PubCo not less than 30 days prior to the Warrant Redemption Date to the registered holders of the warrants to be redeemed at their last addresses as they appear on the registration books. Any notice mailed in the manner provided in the warrant agreement will be conclusively presumed to have been duly given whether or not the registered holder received such notice. In addition, beneficial owners of the redeemable warrants will be notified of such redemption via PubCo’s posting of the redemption notice to DTC. In each case, PubCo may only call the PubCo Public Warrants for redemption upon a minimum of 30 days’ prior written notice of redemption to each holder, provided that holders will be able to exercise their PubCo Public Warrants prior to the time of redemption and, at PubCo’s election, any such exercise may be required to be on a cashless basis. The closing price for the Finnovate Class A Ordinary Shares as of November 11, 2024 was US$ 11.62and has never exceeded the US$18.00 threshold that would trigger the right to redeem the Public Warrants following the Closing. Finnovate identified a material weakness in its internal control over financial reporting. If Finnovate is unable to develop and maintain an effective system of internal control over financial reporting, Finnovate may not be able to accurately report its financial results in a timely manner, which may adversely affect investor confidence in Finnovate and materially and adversely affect Finnovate’s business and operating results. Finnovate’s management is responsible for establishing and maintaining adequate internal control over financial reporting designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP. Finnovate’s management also evaluates the effectiveness of its internal controls and Finnovate will disclose any changes and material weaknesses identified through such evaluation in those internal controls. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of Finnovate’s annual or interim