Company: SCAG
Filing Date: 2025-11-12
Form Type: 20-F
Source: 0001213900-25-109190
Chunk: 71

Company: Scage Future
Filing Date: 2025-11-12
Form: 20-F
Item: Item 4
Chunk 71
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was cancelled and converted into the right to receive a number of Ordinary Shares at the Exchange Ratio (as defined in the Business Combination
Agreement) (if applicable, in the form of ADSs); (2) any Company Convertible Securities (as defined in the Business Combination Agreement),
to the extent then outstanding and unexercised immediately prior to the First Merger Effective Time, were automatically assumed by our
Company and converted into a convertible security of us, subject to the same terms and conditions as were applicable to the corresponding
former Company Convertible Securities immediately prior to the First Merger Effective Time; (3) every issued and outstanding share
of us owned by One Strength Brother Limited, being the only issued and outstanding share in our Company immediately prior to the First
Merger Effective Time, was cancelled; and (4) each then issued and outstanding ordinary share of Merger Sub I, par value US$0.0001
per share, was converted into and exchanged for one ordinary share of Scage International as the surviving company of the First Merger.

At the Effective Time, pursuant
to the Second Merger: (1) each issued and outstanding public unit of Finnovate was automatically detached and the holder thereof
was deemed to hold one Finnovate Class A Ordinary Share and three-quarters of one the public warrants of Finnovate (“ Unit
Separation”), (2) immediately following the Unit Separation, every issued and outstanding Finnovate Ordinary Share (other
than treasury shares held by Finnovate and those shares held by insiders and Dissenting Finnovate Shares or are subject to lock-up restrictions)
immediately prior to the Effective Time was cancelled and converted automatically into the right to receive one ADS; (3) every issued
and outstanding Finnovate Ordinary Share held by the insiders or subject to lock-up restrictions immediately prior to the Effective Time
was cancelled and converted automatically into the right to receive one Ordinary Share; (4) pursuant to certain Assignment, Assumption
and Amendment to Warrant Agreement, at the Effective Time, each the public warrants of Finnovate was converted into one the public warrants
of Scage, and each outstanding Finnovate Private Warrant was converted into one Scage Private Warrant, and each of the public warrants
of Scage and private warrants of Scage (together with public warrants, “ Assumed Warrants”) shall have and be subject to substantially
the same terms and conditions set forth in the respective public warrants of Finnovate and private