Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 86

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 86
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 of the Company held by the Sponsor between the date of the Sponsor Support Agreement and the termination of the Sponsor Support Agreement. Pursuant to the Sponsor Distribution, the recipients of Finnovate securities (other than the Sponsor Parties) agreed to remain subject to the lock -uprestrictions but will not be required to vote their shares in favor of the Business Combination. Insider Letter Amendment Simultaneously with the execution of the Business Combination Agreement, the Company, Scage, the Sponsor, Pubco, Calvin Kung, Wang Chiu Wong, Chunyi Hao, Tiemei Li, and Sanjay Prasad entered into an amendment (the “Insider Letter Amendment”) to that certain letter agreement, dated November 8, 2021 (the “Insider Letter”), by and among the Company, the Sponsor and the directors, officers or other initial shareholders of the Company named therein, pursuant to which Pubco and Scage are added as parties to the Insider Letter. On January3, 2025, the Sponsor consummated a distribution of its assets in accordance with its governing documents, which included the distribution of 4,237,499 Finnovate Class A Ordinary Shares, 1 Finnovate Class B Ordinary Share and 8,243,038 Finnovate Private Warrants then held by the Sponsor to its constituent members. Additionally, while the recipients of such securities agreed to remain subject to the lock -uprestrictions, distributees who are not Sponsor Parties are not required to vote their shares in favor of the Business Combination. Prior to the Closing of the Business Combination, Finnovate and Scage International may release certain PubCo Ordinary Shares issuable to certain Finnovate Initial Shareholders and Scage International shareholders from the transfer restrictions under the lock -upagreements in order to satisfy the initial listing requirements of the Nasdaq Stock Market. Non-Competition and Non-Solicitation Agreement Simultaneously with the execution of the Business Combination Agreement, certain shareholders and officers (each, a “Subject Party”) of Scage International each entered into a non -competitionand non -solicitationagreement with Finnovate, PubCo, Scage International, and the Sponsor (collectively, the “Non -Competitionand Non -SolicitationAgreement”). Under the Non -Competitionand Non -SolicitationAgreement, the Subject Party agrees not to compete with PubCo, the Sponsor, Finnovate, Scage International and their respective affiliates during the three -yearperiod following the Closing