Finnovate Acquisition Corp.
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ROIC.AI
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- Finnovate Acquisition Corp. (FNVT) operates as a blank check company whose principal business activity involves effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, primarily targeting financial technology companies with significant Israeli connections; it offers no current products or services beyond this SPAC structure. Founded in 2021 and headquartered in George Town, Grand Cayman, Cayman Islands, the company focuses on the financial services sector within emerging markets, particularly EEMEA regions. In its most recent major development, Finnovate completed a reverse merger with Scage International Limited, a provider of zero-emission solutions for new energy heavy-duty commercial vehicles and e-fuel, on June 27, 2025, resulting in the combined entity, Scage Future, listing its American Depositary Shares on Nasdaq under new tickers SCAG and SCAGW; prior to closing, the company secured extensions via shareholder votes in March and May 2025, issued an unsecured promissory note for $259,588 in November 2024 from sponsor Finnovate Sponsor L.P., and originally announced the Scage deal in August 2023 at an $800 million enterprise value. Geographically, operations centered in the Cayman Islands with a focus on Asia for the target acquisition and potential global expansion through the post-merger entity into China, Southeast Asia, the Middle East, and North America. Led by CEO Calvin Kung, Finnovate raised $172.5 million in its November 2021 IPO underwritten by EarlyBirdCapital and Ingalls & Snyder.
FINNOVATE ACQUISITION CORP. ANNOUNCES POSTPONEMENT OF SHAREHOLDER MEETING TO 10:00 AM EASTERN TIME MARCH 17, 2025
FINNOVATE ACQUISITION CORP. ANNOUNCES POSTPONEMENT OF SHAREHOLDER MEETING TO 10:00 AM EASTERN TIME FEBRUARY 27, 2025
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
Finnovate Acquisition Corp. Receives Nasdaq Deficiency Notice Due to Delayed Filing of Form 10-Q
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