Finnovate Acquisition Corp. Extends Outside Date with Second Amendment to Business Combination Agreement

Finnovate Acquisition Corp. (NASDAQ: FNVTU) recently disclosed the extension of the Outside Date related to its Business Combination Agreement. On October 31, 2024, Finnovate Acquisition Corp., headquartered in the Cayman Islands, entered into the Second Amendment to Business Combination Agreement with Scage Future, Pubco, Hero 1, Hero 2, and Scage International Limited.

The Second Amendment extends the Outside Date, as defined in the original Business Combination Agreement, from October 31, 2024, to March 31, 2025. This agreement aims to provide additional time for the completion of the proposed business combination. More information regarding this amendment can be found in the full text of the Second Amendment, noted in Exhibit 2.1 of the filing.

Additionally, Finnovate Acquisition Corp. is classified as an emerging growth company per the regulatory definitions. The company has not opted for the extended transition period concerning new or revised financial accounting standards.

Investors are advised to exercise caution and not place undue reliance on forward-looking statements contained within the filing. These statements, including estimates and forecasts of financial performance metrics and future market opportunities, are subject to risks and uncertainties. The completion of the proposed business combination and related approvals pose significant variables that could impact the expected outcomes.

Participants interested in the business combination are encouraged to review the Registration Statement on Form F-4, which includes essential information like preliminary proxy statements and prospectuses. Additional details regarding participant interests, including directors and executive officers, can be obtained from official filings with the Securities and Exchange Commission (SEC).

This Current Report on Form 8-K serves as an informational update regarding the business activities of Finnovate Acquisition Corp. It does not constitute an offer or solicitation for securities trades. The company has duly authorized this report, which was signed by Calvin Kung, the Chief Executive Officer, on November 1, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Finnovate Acquisition’s 8K filing here.

About Finnovate Acquisition

Finnovate Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. It intends to focus on the acquisition of Israel-related companies, including companies focused on payments, insuretech, wealthtech, regtech, digital banking, fintech as a service, banking as a service, cyber area for financial institutions, blockchain and crypto, algo-trading and exchanges, and lending and credit line platforms.