# Finnovate Acquisition Corp. to merge with Scage International in $1B deal

Finnovate Acquisition Corp., a SPAC, has entered into a definitive business combination agreement with Scage International Limited, a zero-emission heavy-duty commercial vehicle provider. The transaction values Scage at $1 billion post-combination.

- Type: Acquisition
- Announced: 2023-08-21
- Where: Nanjing, China, China
- Value: $1.00B
- Status: announced
- Products: new energy heavy-duty commercial vehicles, e-fuel solutions
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Finnovate Acquisition Corp.](https://endata.com/companies/72156.md) (acquirer)
- [Scage International Limited](https://endata.com/companies/72157.md) (target)

## Sources

- [globenewswire.com](https://www.globenewswire.com/news-release/2023/08/21/2728735/0/en/finnovate-acquisition-corp-announces-business-combination-with-scage-international-limited-a-zero-emission-solution-provider-focused-on-new-energy-heavy-duty-commercial-vehicles-an.html), 2023-08-21: "Finnovate Acquisition Corp. and Scage International Limited announced today that they have entered into a definitive Business Combination Agreement."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.