Finnovate Acquisition Corp.
FNVTW
NASDAQ Global Market0.02
USD
+0.02
- -
CIK
0001857855
ISIN
KYG3R34K1110
CUSIP
G3R34K111
Return %
Stock
S&P500
1Y
- -
26.53
3Y
-50.13
76.60
5Y
-96.20
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Calvin Kung
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- The White House George Town Cayman Islands KY1 1208
- IPO Date
- Dec 9, 2021
- CIK
- 0001857855
- Similar Companies
- Business
- Finnovate Acquisition Corp. (FNVTW) operates as a blank check company, or special purpose acquisition company (SPAC), focused on effecting mergers, share exchanges, asset acquisitions, share purchases, recapitalizations, reorganizations, or similar business combinations with one or more businesses, primarily targeting fintech companies with significant Israeli connections; it raised $172.5 million in its November 2021 initial public offering through 17.25 million units underwritten by EarlyBirdCapital and Ingalls & Snyder. Incorporated in 2021 in the Cayman Islands with principal executive offices at 265 Franklin Street, Suite 1702, Boston, MA 02110, the company previously concentrated on financial services opportunities in emerging markets including EEMEA regions. In its most significant recent development, Finnovate completed a business combination with Scage International Limited on June 27, 2025, following approval votes on March 28 and May 6, 2025, and Chinese Securities Regulatory Commission (CSRC) clearance on March 13, 2025; this multi-step merger formed Scage Future Pte. Ltd. (PubCo) as the new parent entity trading on Nasdaq as SCAG and SCAGW, with Finnovate and Scage International becoming wholly owned subsidiaries, accompanied by board and management changes including resignations of key Finnovate executives and new appointments led by Chao Gao. Prior to closing, the company pursued multiple extensions including shareholder meetings postponed to February 27, March 27, and March 28, 2025, supported by sponsor investments such as up to $1.2 million from Sunorange Limited via Finnovate Sponsor L.P., reflecting ongoing efforts to complete its initial business combination amid regulatory and redemption dynamics. Post-merger, Finnovate Acquisition Corp. functions as a subsidiary within the Scage Future structure, which shifts focus to Scage International's automotive sector activities in Asia, including lock-up agreements on 28.1 million PubCo shares and amended registration rights.