Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 81

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 81
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 Articles Extension from May9, 2023 through August8, 2023. Sunorange agreed to deposit into the Trust Account an additional US$100,000 for each successive month, or portion thereof, that is needed by Finnovate to complete an initial business combination until May8, 2024. As general partner of the Sponsor, Sunorange coordinates and authorizes the Sponsor’s financing arrangements with Finnovate, including all loans provided to Finnovate. It has also contributed significant capital at risk as lender to Finnovate of approximately $2.4million under the June 2023 Note, the November 2023 Note and the November 2024 Note, as described in more detail elsewhere in this proxy statement/prospectus. On May2, 2024, Finnovate held an extraordinary general meeting in lieu of an annual general meeting of shareholders (the “2024 EGM”) to amend the Finnovate Articles to approve the extension of the date by which the Finnovate has to consummate an initial business combination from May8, 2024 to November8, 2024 (the “Second Extension Amendment”). On July3, 2024, Finnovate, received written notice from Nasdaq indicating that the Panel had granted Finnovate’s request for continued listing on Nasdaq, subject to the Company completing a business combination with an operating entity and evidencing compliance with the criteria for initial listing on Nasdaq, including the applicable holders requirement, by November4, 2024. On November6, 2024, Finnovate’s shareholders approved an amendment to the Finnovate Articles (the “Third Extension Amendment”), which extends the date by which Finnovate must consummate its initial business combination from November8, 2024 to May8, 2025. On November11, 2024, Finnovate issued the November 2024 Note in the aggregate principal amount of up to $259,588 to the Sponsor, the proceeds from which will be deposited into the Trust Account for the benefit of each Finnovate Public Share that was not redeemed in connection with the Third Extension Amendment. As of December11, 2024, Finnovate had deposited $43,320 (including $55.40 of applicable interest) into the Trust Account. On November8, 2024, Finnovate received written notice (the “Notice Letter”) from the Panel indicating that the Panel had determined to delist Finnovate’s securities from Nasdaq and that