{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-24-004603","form_type":"8-K","ticker":null,"cik":"0001857855","company_name":"Finnovate Acquisition Corp.","filed_at":"2024-02-01T23:59:59+00:00","discovered_at":"2026-05-14T18:03:26.066654+00:00","generated_at":"2026-06-06T11:32:01.585350+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Finnovate Acquisition Corp. issues $1.5M promissory note to Scage International for working capital","bullets":["Unsecured note of up to $1,500,000 to Scage, a party to the August 2023 business combination agreement.","Note is non-interest bearing; principal due at earlier of initial business combination or liquidation.","Includes $169,843.83 advanced by Payee to Maker since December 29, 2023.","Payee waives any claims against the trust account established in connection with the IPO."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-24-004603","json":"https://secwatch.observer/filing/0001493152-24-004603.json","markdown":"https://secwatch.observer/filing/0001493152-24-004603.md","text":"https://secwatch.observer/filing/0001493152-24-004603.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1857855/000149315224004603/0001493152-24-004603-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1857855/000149315224004603/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T11:32:01.585350+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2b97f38b2ac8fc4b86dbdbfc6a80aa591f846206","claim":"Finnovate Acquisition Corp. incurred loan of up to $1,500,000 with Scage International Limited at does not bear interest maturing earlier of the closing of an initial business combination by the Company and the Company’s liquidation.","evidence_excerpt":"On January 26, 2024, Finnovate Acquisition Corp. (the “ Company ”) issued an unsecured promissory note (the “ Note ”) in the aggregate principal amount of up to $1,500,000 to Scage International Limited (“Scage”), a party to the Business Combination Agreement entered into by the Company, Scage, and other parties on August 21, 2023, for the Company’s working capital needs. The 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.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1857855/000149315224004603/0001493152-24-004603-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"up to $1,500,000"},{"label":"Counterparty","value":"Scage International Limited"},{"label":"Rate","value":"does not bear interest"},{"label":"Maturity","value":"earlier of the closing of an initial business combination by the Company and the Company’s liquidation"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"e806e8b8ae4b6af7cd3737bcb72abd5271f86287","claim":"Finnovate Acquisition Corp. entered into Note with Scage International Limited valued at up to $1,500,000 (effective 2024-01-26).","evidence_excerpt":"On January 26, 2024, Finnovate Acquisition Corp. (the “ Company ”) issued an unsecured promissory note (the “ Note ”) in the aggregate principal amount of up to $1,500,000 to Scage International Limited (“Scage”), a party to the Business Combination Agreement entered into by the Company, Scage, and other parties on August 21, 2023, for the Company’s working capital needs.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1857855/000149315224004603/0001493152-24-004603-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"Scage International Limited"},{"label":"Value","value":"up to $1,500,000"},{"label":"Effective","value":"2024-01-26"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}