---
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"
generated_at: "2026-06-06T11:32:01.585350+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Finnovate Acquisition Corp. issues $1.5M promissory note to Scage International for working capital

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-24-004603
- form_type: 8-K
- cik: 0001857855
- company_name: Finnovate Acquisition Corp.
- filed_at: 2024-02-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-004603
- JSON: https://secwatch.observer/filing/0001493152-24-004603.json
- Plain text: https://secwatch.observer/filing/0001493152-24-004603.txt

## Key facts
- Debt Financings
  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.
  - Instrument: loan
  - Principal: up to $1,500,000
  - Counterparty: Scage International Limited
  - Rate: does not bear interest
  - Maturity: earlier of the closing of an initial business combination by the Company and the Company’s liquidation
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1857855/000149315224004603/0001493152-24-004603-index.htm
- Material Agreements
  Finnovate Acquisition Corp. entered into Note with Scage International Limited valued at up to $1,500,000 (effective 2024-01-26).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Scage International Limited
  - Value: up to $1,500,000
  - Effective: 2024-01-26
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1857855/000149315224004603/0001493152-24-004603-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.