Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 79

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 79
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 proceeds to us of US$8,243,038 and US$556,962, respectively. Since the completion of the IPO, Finnovate’s activity has been limited to the evaluation of business combination candidates. On April 27, 2023, Finnovate entered into the Investment Agreement with the Sponsor and Sunorange Limited (“Sunorange”), pursuant to which Sunorange and its designees shall acquire partnership interests in the Sponsor and Class B ordinary shares directly held by certain Finnovate directors, which combined interests will entitle Sunorange and its designees to receive, in the aggregate, 4,237,499 Class B Ordinary Shares (of which it shall acquire an economic interest in 3,557,813 Finnovate Class B Ordinary Shares) and 8,243,038 Finnovate Private Warrants (of which it shall acquire an economic interest in 6,160,000 Finnovate Private Warrants) (the “Sunorange Investment”), Finnovate shall introduce a change in management and the board as follows: (i) Calvin Kung shall replace David Gershon as Chairman of the Board of Directors (the “Board”) and Chief Executive Officer and Wang Chiu (Tommy) Wong shall replace Ron Golan as Chief Financial Officer and director of the Board, effective upon closing of the Sunorange Investment; (ii) Jonathan Ophir and Uri Chaitchik shall tender their resignations as Chief Investment Officer and Senior Consultant, respectively, effective upon closing of the Sunorange Investment; and (iii) Mitch Garber, Gustavo Schwed and Nadav Zohar shall tender their resignations as directors, to be effective upon expiration of all applicable waiting periods under Section 14(f) of the Exchange Act, and Rule 14f -1thereunder (such period of time being referred to herein as the “Waiting Period”), and whose vacancies shall be filled by individuals to be designated by Sunorange and effective upon expiration of the Waiting Period (such new officers and directors collectively referred to herein as the “New Management”). On May 8, 2023, Finnovate completed the closing of the Sunorange Investment after Finnovate’s shareholders approved of certain proposals discussed below, and after certain closing conditions were met, including but not limited to: (i) a minimum of US$30 million remaining in the Trust Account after accounting for all redemptions in connection with the 2023 EGM; (ii) Finnovate obtaining or extending a D&O insurance