Breaking News: Finnovate Acquisition Corp. Delays Shareholder Meeting to March 17, 2025 at 10:00 AM Eastern Time!
Boston, MA, Feb. 25, 2025 (GLOBE NEWSWIRE) — Finnovate Acquisition Corp. (“Finnovate”) (OTC: “FNVUF”, “FNVTF”, “FNVWF”) announced today that its upcoming extraordinary general meeting of shareholders (the “Special Meeting”) to approve its proposed initial business combination which was initially scheduled for January 30, 2025 and had been postponed to February 27, 2025, will be further postponed to 10:00 a.m., Eastern Time on Monday, March 17, 2025.
At the Special Meeting, shareholders of Finnovate will be asked to vote on proposals to approve, among other things, its proposed initial business combination (the “Business Combination”) with Scage International Limited, a Cayman Islands exempted company (“Scage International” or the “Company”), Scage Future, a Cayman Islands exempted company (“Pubco”), Hero 1, a Cayman Islands exempted company and a direct wholly owned subsidiary of Pubco (“Merger Sub I”), and Hero 2, a Cayman Islands exempted company and a direct wholly owned subsidiary of Pubco (“Merger Sub II”) pursuant to a Business Combination Agreement (as amended, the “Business Combination Agreement”). There is no change to the location, the record date, the purpose or any of the proposals to be acted upon at the Special Meeting.
Breaking News: Finnovate Acquisition Corp. has announced a delay in their upcoming shareholder meeting. Originally scheduled for January 30, 2025, the meeting was then rescheduled to February 27, 2025. However, the company has decided to further postpone the meeting to March 17, 2025, at 10:00 AM Eastern Time. This decision comes as Finnovate shareholders are set to vote on the approval of the proposed initial business combination with Scage International Limited, Scage Future, Hero 1, and Hero 2, all Cayman Islands exempted companies.
As per the Business Combination Agreement, shareholders will have the opportunity to approve the merger with the aforementioned companies. The meeting agenda remains the same, with no changes to the location, record date, purpose, or proposals to be discussed at the Special Meeting.
How will this affect me?
As a shareholder of Finnovate Acquisition Corp., this delay means a longer wait before the final decision on the proposed business combination is made. It gives you more time to review the details of the merger and make an informed decision on how to vote during the rescheduled meeting on March 17, 2025.
How will this affect the world?
The delay in Finnovate’s shareholder meeting may impact the business world by prolonging the process of the business combination with Scage International Limited. This could have ripple effects on the financial markets and investors who are closely following the developments of the company.
Conclusion
In conclusion, Finnovate Acquisition Corp.’s decision to postpone the shareholder meeting to March 17, 2025, comes as a significant development in the company’s path towards the proposed business combination. Shareholders and the business community will need to adjust their timelines and expectations accordingly as they await the final decision on the merger.
