Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 455

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 455
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 expertise as well as her experience in management across various countries. Family Relationships No family relationships exist between any of Finnovate’s current or former directors or executive officers. Involvement in Certain Legal Proceedings There are no material proceedings to which any director or executive officer or any associate of any such director or officer is a party adverse to our Company or has a material interest adverse to our Company. Number and Terms of Office of Officers and Directors The Finnovate Board consists of five members. Prior to consummation of our initial public offering, holders of our Founder Shares appointed each of our directors for a two -yearterm. The provisions of our amended and restated memorandum and articles of association regarding director appointment and removal may only be amended by a special resolution passed by at least 90% of our ordinary shares voting in a general meeting. Prior to our initial business combination, subject to any other special rights applicable to the shareholders, any vacancies on the Finnovate Board may be filled by the affirmative vote of a majority of the directors present and voting at the meeting of our board or by a majority of the holders of our Class B ordinary shares. Our officers are appointed by the Board of Directors and serve at the discretion of the Board of Directors, rather than for specific terms of office. The Finnovate Board is authorized to appoint persons to the offices set forth in our amended and restated memorandum and articles of association as it deems appropriate. Director Independence Nasdaq listing standards require that a majority of the Finnovate Board be independent within one year of the Finnovate IPO. An “independent director” is defined generally as a person other than an officer or employee of the Company or its subsidiaries or any other individual having a relationship which in the opinion of the Company’s Board of Directors, would interfere with the director’s exercise of independent judgment in carrying out the responsibilities of a director. Our Board of Directors has determined that, each of our independent directors, Chunyi (Charlie) Hao, Tiemei (Sarah) Li and Sanjay Prasad, will be an “independent director” as defined in the Nasdaq listing standards and applicable SEC rules. Each of our audit committee and compensation committee is entirely composed of independent directors meeting Nasdaq’s and the SEC’s additional requirements applicable to members of those committees. In addition, our independent directors will have regularly scheduled meetings at which only independent directors are present. 229 Committees of the Board of Directors Pursuant to Nasdaq listing rules, we have established two standing committees—an audit committee in compliance