Finnovate Acquisition Corp

Finnovate Acquisition Corp. operates as a blank check company, which engages in effecting a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization. The company was founded on March 15, 2021 and is headquartered in George Town, Cayman Islands.

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Boston, MA, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Finnovate Acquisition Corp. (“Finnovate” or the “Company”) (Nasdaq: “FNVT”, “FNVTU”, “FNVTW”) announced today that, in connection with the Company's upcoming extraordinary general meeting of shareholders (the “Special Meeting”) to consider and approve an extension of time for the Company to consummate an initial business combination from November 8, 2024 to May 8, 2025 (the “Extension”), Finnovate Sponsor, L.P. (the “Sponsor”) or its designees have agreed to revise their intended contribution to support the Extension, such that they will contribute to the Company as a loan an aggregate of $0.05 for each Class A ordinary share that is not redeemed, for each calendar month (commencing on November 8, 2024 and on the 8th day of each subsequent month) until May 8, 2025 (each, an “Extension Period”), or portion thereof, that is needed to complete an initial business combination (the “Contribution”). For example, if the Company takes until May 8, 2025 to complete its initial business combination, which would represent six calendar months, the Sponsor or its designees would make aggregate Contributions resulting in a redemption amount of approximately $11.91 per unredeemed share, in comparison to the current redemption amount of $ approximately 11.61 per share.

FINNOVATE ACQUISITION CORP. ANNOUNCES REVISED MONTHLY SPONSOR CONTRIBUTION OF $0.05 PER SHARE TO TRUST ACCOUNT FOR PROPOSED EXTENSION AND POSTPONEMENT OF SHAREHOLDER MEETING TO 10:00 AM EASTERN TIME NOVEMBER 6, 2024

George Town, Grand Cayman, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Finnovate Acquisition Corp. (“Finnovate” or the “Company”) (NASDAQ: FNVT) on September 12, 2023 received notice from the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, due to the delay in the filing of the Company's Quarterly Report on Form 10-Q for the period ended June 30, 2023 (the “Form 10-Q”) with the Securities and Exchange Commission (the “SEC”), Finnovate does not currently satisfy Nasdaq Listing Rule 5250(c)(1), which requires the timely filing of all periodic reports with the SEC. The deficiency has no immediate effect on the listing or trading of the Company's common stock on Nasdaq.

Finnovate Acquisition Corp. Receives Nasdaq Deficiency Notice Due to Delayed Filing of Form 10-Q

George Town, Grand Cayman and Nanjing, China, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Finnovate Acquisition Corp. (Nasdaq: FNVT) (“Finnovate”), a publicly traded special purpose acquisition company, and Scage International Limited (“Scage”) announced today that they have entered into a definitive Business Combination Agreement (the “Business Combination Agreement”). Upon consummation of the two mergers and the other transaction contemplated by the Business Combination Agreement (the “Business Combination”), Scage Future, a newly formed holding company (“Pubco”) will seek to be listed on the Nasdaq Stock Market. The outstanding securities of Scage and Finnovate will be converted into the right to receive securities of Pubco. The transaction represents a post-combination valuation of $1.0 billion ($1,000,000,000) for Scage upon closing of the Business Combination, subject to adjustment.

Finnovate Acquisition Corp. Announces Business Combination with Scage International Limited, a zero-emission solution provider focused on new energy heavy-duty commercial vehicles and e-fuel solutions

NEW YORK, Dec. 06, 2021 (GLOBE NEWSWIRE) -- Finnovate Acquisition Corp. (Nasdaq: FNVTU) (the “Company”) today announced that, commencing December 8, 2021, holders of the units sold in the Company's initial public offering may elect to separately trade the Class A ordinary shares and warrants included in the units. The Class A ordinary shares and warrants that are separated will trade on the Nasdaq Global Market under the symbols “FNVT” and “FNVTW,” respectively. Units that are not separated will continue to trade on the Nasdaq Global Market under the symbol “FNVTU.” Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company's transfer agent, in order to separate the units into Class A ordinary shares and warrants.

Finnovate Acquisition Corp. Announces the Separate Trading of its Class A Ordinary Shares and Warrants, Commencing December 8, 2021

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