Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 605

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 605
---
 Hao, Tiemei Li, and Sanjay Prasad entered into an amendment (the “Insider Letter Amendment”) to that certain letter agreement, dated November 8, 2021 (the “Insider Letter”), by and among the Company, the Sponsor and the directors, officers or other initial shareholders of the Company named therein, pursuant to which Pubco and Scage are added as parties to the Insider Letter. On January3, 2025, the Sponsor consummated a distribution of its assets in accordance with its governing documents, which included the distribution of 4,237,499 Finnovate Class A Ordinary Shares, 1 Finnovate Class B Ordinary Share and 8,243,038 Finnovate Private Warrants then held by the Sponsor to its constituent members. Additionally, while the recipients of such securities agreed to remain subject to the lock -uprestrictions, distributees who are not Sponsor Parties are not required to vote their shares in favor of the Business Combination. Based on the actual redemption in connection with the Business Combination, Finnovate and Scage International may release certain PubCo Ordinary Shares issuable to certain shareholders from the transfer restrictions under the lock -upagreements in order to satisfy the initial listing requirements of the Nasdaq Stock Market. F-61 FINNOVATE ACQUISITION CORP.
NOTES TO CONDENSED FINANCIAL STATEMENTS
(UNAUDITED) NOTE 1—ORGANIZATION AND BUSINESS BACKGROUND (cont.) Non-Competition and Non-Solicitation Agreement Simultaneously with the execution of the Business Combination Agreement, certain shareholders and officers (each, a “Subject Party”) of the Company each entered into a noncompetition and non -solicitationagreement with the Company, Pubco, Scage, and the Sponsor (collectively, the “Non -Competitionand Non -SolicitationAgreement”). Under the Non -Competitionand Non -SolicitationAgreement, the Subject Party agrees not to compete with Pubco, the Sponsor, the Company, Scage, and their respective affiliates during the three -yearperiod following the Closing and, during such three -yearrestricted period, not to solicit employees or customers of such entities. The Non -Competitionand Non -SolicitationAgreement also contains customary confidentiality and non -disparagementprovisions. Assignment, Assumption, and Amendment to Warrant Agreement Prior to the Closing, the Company, Pubco and Continental, as warrant agent (the “W