Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 573

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 573
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816 |   |     |       |    889,816 |   |
| Foreign exchange adjustment                                                        |     |              |    (7,808 | ) |     |              |   (17,198 | ) |     |             |    (32,509 | ) |     |       |    (57,515 | ) |
| Balance as of June 30, 2024                                                        |     | $            | 3,560,518 |   |     | $            | 7,843,461 |   |     | $           |  8,076,013 |   |     | $     | 19,479,992 |   |

Conversion of debt from Gongqingcheng Lanyan to Series A Convertible Redeemable Preferred Shares In December 2021, the Group entered into a debt agreement with Gongqingcheng Lanyan Yufeng Investment Partnership (“Gongqingcheng Lanyan”), pursuant to which, Gongqingcheng Lanyan would provide $716,947 (RMB5,100,000) of debt which can be converted into purchase 607,129shares of Series A Convertible Redeemable Preferred Shares at the price of $1.18 per share in the form of warrant. The warrant in nature is a conversion option of the debt, which can be exercised once Gongqingcheng Lanyan completes the foreign exchange registration procedures for Overseas Direct Investment (“ODI”) under State Administration for Foreign Exchange (“SAFE”) requirements. The debt must be repaid by the Group to Gongqingcheng Lanyan in full either in cash or in certain amount of Series A Convertible Redeemable Preferred Shares converted at US$1.18 per share upon maturity date. The Group is obligated to pay interest at 3% simple interest per annum accrued from the remittance date to the earlier maturity date of: (i) two years after Gongqingcheng Lanyan remitting the debt, or (ii) two months after Gongqingcheng Lanyan exercising the warrant. The Group received $716,947 (RMB5,100,000) of debt from Gongqingcheng Lanyan in January 2022.

F-35 SCAGE INTERNATIONAL LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 12.CONVERTIBLE REDEEMABLE PREFERRED SHARES (cont.) In September 2022, Gongqingcheng Lanyan entered into the Series A convertible redeemable preferred shares investment agreement with the Group, pursuant to