Company: SCAG
Filing Date: 2025-07-03
Form Type: 20-F
Source: 0001213900-25-061408
Chunk: 9

Company: Scage Future
Filing Date: 2025-07-03
Form: 20-F
Item: Item 1
Chunk 9
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 PubCo, Scage International, Finnovate and certain Key Company Shareholders (as defined in the Business
Combination Agreement) each entered into Lock-Up Agreements (each, a “ Key Seller Lock-Up Agreement”). Pursuant to each Key
Seller Lock-Up Agreement, each Key Company Shareholder agreed not to, during the period commencing from the Closing Date and ending on
(A) the 6-month anniversary of the Closing Date with respect to 40% of the restricted securities and (B) the 36-month anniversary of the
Closing Date with respect to the remaining 60% of the restricted securities, (i) lend, offer, pledge, hypothecate, encumber, donate, assign,
sell, offer to sell, contract or agree to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant
any option, right or warrant to purchase, or otherwise transfer or dispose of or agree to transfer or dispose of, directly or indirectly,
or establish or increase of a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section
16 of the Exchange Act and the rules and regulations of the SEC promulgated thereunder, or otherwise transfer or dispose of, directly
or indirectly, any restricted securities, (ii) enter into any swap or other arrangement that transfers to another, in whole or in part,
any of the economic consequences of ownership of the Lock-up Securities, whether any such transaction is to be settled by delivery of
such restricted securities, in cash or otherwise, or (iii) publicly disclose the intention to do any of the foregoing, whether any such
transaction described in clauses (i), (ii) or (iii) above is to be settled by delivery of restricted securities or other securities, in
cash or otherwise (any of the foregoing described in clauses (i), (ii) or (iii), a “ Prohibited Transfer”) (subject to early
release if PubCo consummates a Change of Control).

In addition, the remaining
shareholders of Scage International entered into a lock-up agreement (each, a “ Seller Lock-Up Agreement”) on the Closing Date,
pursuant to which each of them has agreed not to make a Prohibited Transfer during the period commencing from the Closing Date and ending
on the 6-month anniversary of the Closing Date (subject to early release if PubCo consummates a Change of Control).

Prior to the Closing of the
Business Combination, Finnovate and Scage