Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 303

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 303
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 (1) the representations and warranties of Scage International, PubCo, Merger Sub I, and Merger Sub II being true and correct on and as of the Closing (subject to Material Adverse Effect on the Target Companies, taken as a whole); (2) Scage International, PubCo, Merger Sub I, and Merger Sub II having performed in all material respects the respective obligations and complied in all material respects with their respective covenants and agreements under the Business Combination Agreement required to be performed or complied with on or prior the date of the Closing; (3) absence of any Material Adverse Effect with respect to the Target Companies (taken as a whole) since the date of the Business Combination Agreement which is continuing and uncured; (4) the Non -CompetitionAgreements, the Employment Agreements, the Amended and Restated Registration Rights Agreement, each Key Seller Lock -UpAgreement and each Seller Lock -UpAgreement shall be in full force and effect from the Closing; (5) resignation of the directors and officers of Scage International as requested by Finnovate prior to the Closing; (6) the Reorganization having been consummated by September 30, 2023; and (7) Scage International and Nanjing Scage shall have reached a waiver, compromise, conciliation, settlement or similar resolution of disputes with Shenzhen Deju Brothers Special II Corporate Management Partnership (Limited Partnership) regarding Scage International’s or Nanjing Scage’s equity, and the property preservation measures against Nanjing Scage (the equity interest held by Nanjing Scage in Scage (Shanghai) Hydrogen Energy Technology Co., Ltd. has been judicially frozen) have been released. Termination The Business Combination Agreement may be terminated at any time prior to the Closing by either Finnovate or Scage International if the Closing does not occur by February 29, 2024, or such other date as may be extended pursuant to the Business Combination Agreement. The Business Combination Agreement may also be terminated under certain other customary and limited circumstances at any time prior the Closing, including, among other reasons: (1) by mutual written consent of Finnovate and Scage International; (2) by either Finnovate or Scage International if a governmental authority of competent jurisdiction shall have issued an order or taken any other action permanently restraining, enjoining or otherwise prohibiting the Transactions, and such order or other action has become final and non -appealable; (3) by Sc