Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 419

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 419
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 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. In connection with the closing of the Sunorange Investment, on May 8, 2023, Sunorange caused US$300,000 to be deposited into the Trust Account to support the first three months of the Extension. Sunorange has agreed to deposit into the Trust Account an additional US$100,000 for each successive month, or portion thereof, that is needed by us to complete an initial Business Combination until May 8, 2024. 2023 EGM On May 8, 2023, we held the 2023 EGM to amend our Amended and Restated Articles of Association to: (i) approve the First Extension Amendment and (ii) to entitle holders of Class B ordinary shares to convert such shares into Class A ordinary shares prior to the closing of an initial Business Combination at the election of the holder. There were 21,712,500 of our ordinary shares issued and outstanding on April 14, 2023, the record date for the 2023 EGM. At the 2023 EGM, there were 14,402,264 ordinary shares present in person or by proxy, representing approximately 66.33% of the total ordinary shares outstanding as of the record date, which constituted a quorum. Shareholders holding 12,626,668 Class A ordinary shares exercised their right to redeem such shares for a pro rata portion of the funds in our Trust Account. These shares were redeemed for approximately US$10.50 per share for a total redemption value paid from the Trust Account of approximately US$132,616,922. In connection with the 2023 EGM and pursuant to the Investment Agreement, Sunorange will contribute to us loans of the lesser of (i) US$100,000 or (ii) US$0.033 for each Finnovate Public Share that is not redeemed for each calendar month (commencing on May 8, 2023 and ending on the 8 thday of each subsequent month), or portion thereof, that is needed by us to complete an initial Business Combination until May 8, 2024. On June2, 2023, we issued the June 2023 Note in the aggregate principal amount of up to US$1,200,000 to Sunorange, which will be deposited into the Trust Account for