Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 84

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 84
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 securities of Scage International, to the extent then outstanding and unexercised immediately prior to the First Merger Effective Time, shall automatically be assumed by PubCo and converted into a convertible security of PubCo; (c) each Finnovate Ordinary Share that is issued and outstanding immediately prior to the Effective Time (other than those held by the Insiders) shall be cancelled and converted automatically into the right to receive one PubCo ADS; (d) each Finnovate Ordinary Share that is issued and outstanding immediately prior to the Effective Time held by the Insiders shall be cancelled and converted automatically into the right to receive one PubCo Ordinary Share; and (e) each outstanding Purchaser Public Warrant and Purchaser Private Warrant shall be converted into one PubCo Public Warrant and one PubCo Private Warrant, respectively. Agreements Entered into in Connection with the Business Combination Lock-Up Agreements Simultaneously with the execution of the Business Combination Agreement, PubCo, Scage International, Finnovate and certain Key Company Shareholders, as shareholders entitled to vote an aggregate 80.9% of all issued and outstanding shares of Scage International (without conversion of outstanding convertible bonds of Scage International), which is sufficient to constitute the Required Company Shareholder Approval (either as the holder of record or the beneficial owner within the meaning of Rule 135 -3under the Exchange Act), each entered into Lock -UpAgreements (each, a “Key Seller Lock -UpAgreement”). It is a condition to the Closing that all other shareholders of Scage International between signing and Closing enter into a lock -upagreement (each, a “Seller Lock -UpAgreement”). Pursuant to each Key Seller Lock -UpAgreement, each Key Company Shareholder agreed not to, during the period commencing from the Closing Date and ending on (A) the 6 -monthanniversary of the Closing Date with respect to 40% of the restricted securities and (B) the 36 -monthanniversary 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