Company: SCAG
Filing Date: 2025-01-06
Form Type: 424B3
Source: 0001213900-25-001215
Chunk: 432

Company: Scage Future
Filing Date: 2025-01-06
Form: 424B3
Chunk 432
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i) the date on which we consummate our Business Combination and (ii) the date that our winding up is effective. As of September30, 2024 and December31, 2023, the Company had $187,500 and $0, respectively, outstanding under the May 2024 Promissory Note, which is included in the Promissory Note payable — related party account on the accompanying condensed balance sheets. On November11, 2024, we issued the November 2024 Note in the aggregate principal amount of up to $259,588 to the Sponsor, which will be deposited into the Trust Account for the benefit of each Public Share that was not redeemed in connection with the November 2024 Extension. The Sponsor agreed to pay $43,264.60 per month until the completion of an initial Business Combination, commencing on November8, 2024 and continuing through May8, 2025. The November 2024 Note bears no interest and is due and payable upon the earlier to occur of (i) the date on which we consummate our Business Combination and (ii) the date that our winding up is effective. As of January6, 2025, the Company had deposited $86,670 (including $140.80 of applicable interest) into the Company’s Trust Account. We could use a portion of the funds not being placed in the Trust Account to pay commitment fees for financing, fees to consultants to assist us with our search for a target business or as a down payment or to fund a “no -shop” provision (a provision designed to keep target businesses from “shopping” around for transactions with other companies or investors on terms more favorable to such target businesses) with respect to a particular proposed initial Business Combination, although we do not have any current intention to do so. If we entered into an 213 agreement where we paid for the right to receive exclusivity from a target business, the amount that would be used as a down payment or to fund a “no -shop” provision would be determined based on the terms of the specific initial Business Combination and the amount of our available funds at the time. Our forfeiture of such funds (whether as a result of our breach or otherwise) could result in our not having sufficient funds to continue searching for, or conducting due diligence with respect to, prospective target businesses. As agreed by the shareholders, we have until May8, 2025 (unless extended by Finnovate’s shareholders, or such earlier time as the Finnovate