Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 474

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 474
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 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”). Sunorange’s acquisition of interests in the 4,237,499 Class B Ordinary Shares (of which it acquired an economic interest in 3,557,813 Finnovate Class B Ordinary Shares) and 8,243,038 Finnovate Private Warrants (of which it acquired an economic interest in 6,160,000 Finnovate Private Warrants), the change to New Management, and other transactions contemplated by the Investment Agreement are hereinafter referred to as the “Investment.” On May 8, 2023, Finnovate completed the closing of the 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 policy on terms satisfactory to the parties, (iii) the conversion of Class B ordinary shares into Class A ordinary shares as needed to retain shareholders and meet continued listing requirements of Nasdaq in the event that the Articles Extension Proposal is approved; (iv) the amendment of the Sponsor’s existing limited partnership agreement; (v) the transfer of 61,875 Class B ordinary shares from certain Company directors to Sunorange or its designees; and (vi) the cancellation of the outstanding working capital loan from the Sponsor and the reduction of certain advisory fees to be due upon the closing of an initial business combination. 241 On November8, 2023, we issued the November 2023 Note in the principal amount of up to US$1,500,000 to Sunorange. The November 2023 Note was issued in connection with advances made by Sunorange in the amount of US$477,330 from May8, 2023 through December16, 2023 and advances Sunorange may make in the future to us for working capital expenses. The November 2023 Note is non -interestbearing and payable upon the earlier of (i) the date of the consummation of the Business Combination or (ii) the date of our liquidation. On May15