Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 599

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 599
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 able to do so. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after May8, 2025. On November 8, 2023, the Company issued a promissory note in the principal amount of up to $1,500,000 to Sunorange (the “November 2023 Promissory Note”). The note is non -interestbearing and is due on the earlier of consummation of the Business Combination or liquidation. The November 2023 Promissory Note was issued in connection with advances made by Sunorange since May 8, 2023 and advances Sunorange may make in the future to the Company for working capital expenses. The November 2023 Promissory Note is non -interestbearing and payable upon the earlier of (i) the date of the consummation of the Business Combination or (ii) the date of the Company’s liquidation. As of September 30, 2024 and December31, 2023, the Company had $1,193,961 and $542,503, respectively outstanding under the November 2023 Promissory Note included in the Working Capital Loan—related party line of the accompany condensed balance sheets. On January 26, 2024, the Company issued an unsecured promissory note (the “January 2024 Promissory Note”) in the aggregate principal amount of up to $1,500,000 to Scage, a party to the Business Combination Agreement entered into by the Company, Scage, and other parties on August 21, 2023 (the “Scage Business Combination Agreement”), for the Company’s working capital needs. The January 2024 Promissory Note does not bear interest and matures upon the earlier of the closing of an initial Business Combination by the Company and the Company’s liquidation. As of September 30, 2024, the Company had $200,000 outstanding under the January 2024 Promissory Note. F-58 FINNOVATE ACQUISITION CORP.
NOTES TO CONDENSED FINANCIAL STATEMENTS
(UNAUDITED) NOTE 1—ORGANIZATION AND BUSINESS BACKGROUND (cont.) On May15, 2024, the Company issued an unsecured promissory note (the “May 2024 Promissory Note”) in the aggregate principal amount of up to $225,000 to the Sponsor, which were deposited into the Trust Account