secwatch.observer — SEC 8-K summary
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Issuer:     Finnovate Acquisition Corp. (—)
CIK:        0001857855
Form:       8-K
Filed at:   2025-07-03T23:59:59+00:00
Accession:  0001641172-25-017846
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.95
Item codes: 1.01, 2.01, 3.03, 5.01, 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Finnovate closes SPAC merger with Scage; PubCo SCAG lists on Nasdaq
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- Business combination closed June 27, 2025; PubCo Scage Future issued 72.2M shares post-closing.
- PubCo ADSs began trading on Nasdaq Global Market on June 30, 2025 under ticker SCAG.
- Pre-closing, public shareholders redeemed 766,207 shares at ~$12.18 per share.
- Lock-up on 28.1M PubCo shares for 6 months; new directors appointed to PubCo.
- Amendment to registration rights agreement adds PubCo and revises demand/piggyback rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1857855/000164117225017846/0001641172-25-017846-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1857855/000164117225017846/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-017846

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