Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 44

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 44
---
 of the Finnovate Public Shares are redeemed and assuming none of the Finnovate shareholders exercise their redemption rights in connection with the Meeting. Under the Contractual Maximum Redemption scenario (as defined below), Finnovate Public Shareholders, the Sponsor Parties and the Scage International shareholders will own approximately nil, 0.4% and 93.8% of the outstanding shares of PubCo, respectively, such percentages calculated assuming that Scage International’s shareholders receive approximately 67,482,417 PubCo Ordinary Shares, represented by PubCo ADSs, derived from the shares outstanding and weighted average shares outstanding as presented in the pro forma combined financial statements (after rounding adjustment). There are currently no specified circumstances or arrangements under which the Sponsor, its affiliates, and promoters, directly or indirectly, could transfer ownership of securities of Finnovate, or that could result in the surrender or cancellation of such securities. However, if additional investors participate through a PIPE financing, there may be arrangements where certain holders of Finnovate Securities sell or transfer some of their securities to the PIPE investors. If any of Finnovate Public Shareholders redeem their Finnovate Public Shares at Closing but continue to hold Public Warrants after the Closing, the aggregate value of the Public Warrants that may be retained by them, based on the closing trading price per Public Warrant as of November11, 2024, would be approximately US$156,617 regardless of the amount of redemptions by Finnovate Public Shareholders. Upon the issuance of PubCo Ordinary Shares in connection with the Business Combination, the percentage ownership of PubCo by Finnovate Public Shareholders that do not redeem their Finnovate Public Shares will be diluted. Finnovate Public Shareholders that do not redeem their Finnovate Public Shares in connection with the Business Combination will experience further dilution upon the exercise of Public Warrants that are retained after the Closing by redeeming Finnovate Public Shareholders. The percentage of the total number of outstanding PubCo Ordinary Shares, represented by PubCo ADSs, that will be owned by Finnovate Public Shareholders as a group will vary based on the number of Finnovate Public Shares for which the holders thereof request redemption in connection with the Business Combination. xviii Potential ownership of outstanding PubCo Ordinary Shares, including those represented by PubCo ADSs, upon Closing (on a diluted and as -converted basis assuming the vesting and exercise of outstanding warrants of PubCo and the issuance of PubCo Ordinary Shares in respect thereof): The