Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 439

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 439
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, 2023, and subtracting historical statements of operations for the six months ended June30, 2023. Finnovate’s historical statement of operations for the year ended December31, 2023 is included elsewhere in this proxy statement/prospectus. Finnovate’s historical statements of operations for the six months ended June30, 2024 and 2023 are not included elsewhere in this proxy statement/prospectus. Description of the Transactions On August 21, 2023, Finnovate Acquisition Corp, a Cayman Islands business company (“Finnovate” or the “Purchaser”), entered into a Business Combination Agreement (the “Business Combination Agreement”) with Scage International Limited, an exempted company incorporated in the Cayman Islands (“Scage” or the “Company”), Scage Future, an exempted company incorporated with limited liability in the Cayman Islands (“PubCo”), Hero1, an exempted company incorporated with limited liability in the Cayman Islands and a wholly -ownedsubsidiary of PubCo (“Merger Sub I”), and Hero2, an exempted company incorporated with limited liability in the Cayman Islands and a wholly -ownedsubsidiary of PubCo (“Merger Sub II”). Pursuant to the Business Combination Agreement, subject to the terms and conditions set forth therein, at the closing of the transactions contemplated by the Business Combination Agreement (the “Closing”), (a) First Merger Sub will merge with and into the Company (the “First Merger”), with the Company surviving the First Merger as a wholly -ownedsubsidiary of PubCo and the outstanding Company Securities being converted into the right to receive PubCo Securities; (b) on the Closing Date and immediately following the First Merger, and as part of the same 217 overall transaction as the First Merger, Second Merger Sub will merge with and into the Purchaser (the “Second Merger”, and together with the First Merger, the “Mergers”), with the Purchaser surviving the Second Merger as a wholly -ownedsubsidiary of PubCo and the outstanding Purchaser Securities being converted into the right to receive PubCo Securities. Under the Business Combination Agreement, the Aggregate Merger Consideration Amount to be paid to the shareholders of Scage is (a) Eight hundred million U.S. Dollars (US$800,000,000) minus (b) if Closing Net Debt is a positive number, the amount of Closing Net Debt, plus (c) if Closing