Scage Future to Begin Trading on Nasdaq Following Business Combination Completion
Key Ideas
- Scage Future will start trading on the Nasdaq on June 30, 2025, under the ticker symbol 'SCAG' following the completion of the Business Combination.
- The merger aims to accelerate the commercialization of hybrid, battery-electric, and hydrogen-fuel-cell trucks, along with e-fuel technologies for global decarbonization.
- The transaction positions Scage to expand production capacity, invest in hydrogen infrastructure, and extend operations across China, Southeast Asia, the Middle East, and potentially North America.
- Finnovate Acquisition Corp expresses gratitude for the completion of the deal, highlighting the role of advisors and consultants in the successful transaction.
Scage International Limited and Finnovate Acquisition Corp have finalized their business combination, resulting in the creation of Scage Future. The American depositary shares (ADSs) of the combined company will be traded on the Nasdaq under the symbol 'SCAG' starting June 30, 2025. Chao Gao, the Founder and CEO of Scage International, expressed enthusiasm about the milestone, emphasizing the company's commitment to decarbonizing global commercial transportation. The move to become a Nasdaq-listed firm is expected to provide visibility and access to capital, enabling the acceleration of next-generation zero-emission truck technologies and e-fuel solutions, including hydrogen-fuel-cell trucks. Plans include enhancing production capacity, investing in hydrogen infrastructure, and expanding operations globally, with a focus on sustainable transportation solutions. Finnovate CEO Calvin Kung acknowledged the efforts of advisors and consultants in successfully completing the transaction. Scage International is recognized for its role as a leading zero-emission technology provider in China, specializing in advanced heavy-duty NEV trucks and innovative e-fuel systems. The company's strategic partnerships and quality control framework support the delivery of high-performance NEVs for various industries. Finnovate Acquisition Corp, the special purpose acquisition company, operates with the goal of acquiring businesses and assets through various mechanisms. The release also includes forward-looking statements regarding revenue, market opportunities, growth, and talent retention, highlighting the company's optimistic outlook.
Topics
Asia
Zero-emission
Commercial Vehicles
Global Expansion
Sustainable Future
Financial Markets
Nasdaq
Business Combination
E-fuel Solutions
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