FNVT SEC filings, in plain English
Everything Finnovate Acquisition Corp. has filed with the SEC that we hold — 40 filings, newest first, 2 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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- What changed vs 2024-12-10trust $26.1M → $10.4M -60%deadline 2025-05-08 → 2025-11-08sponsor loan $1.1M → $1.2Mshares 2.25M → 865K -62%
trust account, combination deadline, sponsor loans outstanding +24 moved · 1 with no prior record of ours
- Trust account
- $26.1M$10.4M
- Combination deadline
- 2025-05-082025-11-08
- Sponsor loans outstanding
- $1.1M$1.2M
- Redeemable shares
- 2.25M865K
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as $15,706,469 left the trust between the two filings.
The clause “Prepaid expenses 24,030 24,030 Total Current Assets 123,802 24,799 Investments held in Trust Account 10,420,304 10,208,877 Total Assets $ 10,544,106 $ 10,233,676 Liabilities, Redeemable Ordinary Shares and Shareholders’ Deficit Current”…
SpacBrain reads this as 184 days later than the previous record.
The clause …“of all of the Public Shares if the Company is unable to complete the Business Combination by November 8, 2025, subject to applicable law. If the Company does not invest the proceeds as discussed above, the Company may be deemed”…
SpacBrain reads this as the sponsor has advanced $104,630 more.
The clause …“As of March 31, 2025 and December 31, 2024, the Company had $ 1,204,630 and $ 1,204,630 outstanding under the November 2023 Promissory Note included in the Working Capital Loan – related party line of the accompanying unaudited”…
SpacBrain reads this as 1,383,214 shares are no longer redeemable.
The clause “0,000,000 shares authorized, 4,462,499 shares issued and outstanding (excluding 865,292 shares subject to possible redemption) at March 31, 2025 and December 31, 2024, respectively 446 446 Class B Ordinary Shares, $ 0.0001 par value,”…
The clause “These conditions, involving liquidity concerns and mandatory liquidation, raise substantial doubt about the Company’s ability to continue as a going concern for a period of time within one year after the date that the unaudited condensed”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2024-04-01deadline 2024-05-08 → 2025-11-08sponsor loan $1.0M → $1.2Mshares 4.62M → 865K -81%
combination deadline, sponsor loans outstanding, redeemable shares +23 moved · 2 with no prior record of ours
- Combination deadline
- 2024-05-082025-11-08
- Sponsor loans outstanding
- $1.0M$1.2M
- Redeemable shares
- 4.62M865K
- Trust account
- $51.2M · unchanged
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as 549 days later than the previous record.
The clause …“of all of the Public Shares if the Company is unable to complete the Business Combination by November 8, 2025, subject to applicable law. If the Company does not invest the proceeds as discussed above, the Company may be deemed”…
SpacBrain reads this as the sponsor has advanced $204,630 more.
The clause …“or (ii) the date of our liquidation. As of December 31, 2024, we had $1,204,630 outstanding under the November 2023 Promissory Note. On January 26, 2024, we issued a promissory note in the aggregate principal amount of up to”…
SpacBrain reads this as 3,758,040 shares are no longer redeemable.
The clause “0,000,000 shares authorized, 4,462,499 shares issued and outstanding (excluding 865,292 and 4,623,332 shares subject to possible redemption) at December 31, 2024 and 2023, respectively 446 446 Class B Ordinary Shares, $ 0.0001 par value,”…
The clause “0,208,877 As of December 31, 2023 $ 51,200,344 $ - $ - $ 51,200,344 Investments held in trust account $ 51,200,344 $ - $ - $ 51,200,344 Class A Ordinary Shares Subject to Possible Redemption The Company accounts for its Class A Ordinary”…
The clause …“Shareholders would receive upon any redemption or our liquidation; ● there is substantial doubt about our ability to continue as a “going concern”; and ● we have identified a material weakness in our internal control over financial”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Finnovate Acquisition Corp. called an extraordinary general meeting for 10:00 a.m. Eastern Time on May 6, 2025 to approve an Articles Extension. The business combination agreement with Scage Future, signed August 21, 2023 and amended June 18, 2024, October 31, 2024 and April 2, 2025, was approved by shareholders at a Business Combination Meeting held March 28, 2025, at which holders of 856,543 Class A ordinary shares exercised redemption rights, with the final price calculated two business days before consummation. The Scage registration statement went effective December 27, 2024. Why it matters: Shareholders approved the Scage combination on March 28, 2025 and five weeks later the company needed an extension just to close it - the vote resolved nothing, and the agreement has now been amended three times. Holders who did not redeem at the deal vote retain that right here, and with only 5,327,791 Class A shares left the trust is the dominant claim. Liquidation on May 8, 2025 is the stated alternative.
What changed vs 2024-10-15deadline 2025-05-08 → 2025-11-08combination deadline, sponsor loans outstanding1 moved · 1 with no prior record of ours
- Combination deadline
- 2025-05-082025-11-08
- Sponsor loans outstanding
- $200K · unchanged
SpacBrain reads this as 184 days later than the previous record.
The clause …“the Company the right to extend the termination date from May 8, 2025 to November 8, 2025. The Company will then continue to attempt to consummate the Scage Business Combination until the Articles Extension Date. The Company will”…
The clause …“combination with Scage and our liquidation. As of September 30, 2024, we had $200,000 outstanding under the January 2024 Promissory Note. Sponsor Distribution On January 3, 2025, the Sponsor consummated a distribution of its assets in”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- 2025-07-31 · unchanged
The clause …“(the “ Third Amendment ”), pursuant to which the parties agreed to extend the Outside Date (as defined in the Business Combination Agreement) from March 31, 2025 to July 31, 2025. The foregoing description of the Third Amendment is”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- 2025-07-31 · unchanged
The clause …“(the “ Third Amendment ”), pursuant to which the parties agreed to extend the Outside Date (as defined in the Business Combination Agreement) from March 31, 2025 to July 31, 2025. The foregoing description of the Third Amendment is”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
outside date1 moved
- Outside date
- 2025-03-312025-07-31
SpacBrain reads this as 122 days later than the previous record.
The clause …“(the “ Third Amendment ”), pursuant to which the parties agreed to extend the Outside Date (as defined in the Business Combination Agreement) from March 31, 2025 to July 31, 2025. The foregoing description of the Third Amendment is”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- 2025-07-31 · unchanged
The clause …“(the “ Third Amendment ”), pursuant to which the parties agreed to extend the Outside Date (as defined in the Business Combination Agreement) from March 31, 2025 to July 31, 2025. The foregoing description of the Third Amendment is”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Finnovate Acquisition Corp. filed a definitive merger proxy and prospectus covering up to 72,810,209 ordinary shares represented by American Depositary Shares and 21,737,500 warrants of Scage Future, under a Business Combination Agreement dated August 21, 2023 as amended June 18, 2024 and October 31, 2024. Private placement subscription agreements must deliver PIPE cash proceeds of not less than US$15 million to satisfy a closing condition, with proceeds used for operating and working capital purposes. The transaction must be consummated by May 8, 2025 unless extended. Why it matters: A $15 million minimum PIPE condition is the pressure point - if subscribers walk, the deal fails regardless of the shareholder vote, and the proceeds are earmarked for working capital rather than growth, so the target needs the money to operate. Public shareholders can redeem at the trust value instead of taking ADSs in a Cayman holding company. The May 8, 2025 outside date would in fact require a further extension vote weeks later.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- not previously extracted2025-03-31
SpacBrain reads this as the agreement may be terminated from 2025-03-31.
The clause …“(the “Second Amendment”), pursuant to which the parties agreed to extend the Outside Date (as defined in the Business Combination Agreement) from October 31, 2024 to March 31, 2025. On October 13, 2024, the Company’s third -party”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2024-08-19trust $25.7M → $26.1M +2%deadline 2024-11-08 → 2025-05-08
trust account, combination deadline, going-concern doubt +22 moved · 3 with no prior record of ours
- Trust account
- $25.7M$26.1M
- Combination deadline
- 2024-11-082025-05-08
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $1.1M · unchanged
- Redeemable shares
- 2.25M · unchanged
SpacBrain reads this as $390,294 was added to the trust between the two filings.
The clause “7 Prepaid expenses 38,424 37,389 Total Current Assets 45,979 37,426 Investments held in Trust Account 26,126,773 51,200,344 Total Assets $ 26,172,752 $ 51,237,770 Liabilities, Redeemable Ordinary Shares and Shareholders’ Deficit Current”…
SpacBrain reads this as 181 days later than the previous record.
The clause …“financial statements are issued. While Management intends to complete a Business Combination on or before May 8, 2025, it is uncertain whether we will be able to do so. No adjustments have been made to the carrying amounts of”…
The clause …“Combination not occur, and potential subsequent dissolution also raises substantial doubt about the Company’s ability to continue as a going concern. While Management intends to complete a Business Combination on or before May 8,”…
The clause “Note in its first payment. As of September 30, 2024 and December 31, 2023, the outstanding balance of the June 30, 2023 Promissory Note was $ 1,100,000 and $ 800,000 , respectively, which is included in the Promissory Note payable –”…
The clause …“500,000,000 shares authorized; 4,462,499 issued and outstanding (excluding 2,248,506 and 4,623,332 shares subject to possible redemption) at September 30, 2024 and December 31, 2023, respectively 446 446 Class B Ordinary Shares, $”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.