Finnovate Acquisition Corp. entered into a definitive agreement for the placement of an unsecured promissory note at an issue price of $1,500,000 for gross proceeds of $1,500,000 on January 26, 2024. The transaction will include participation from new lender, Scage International Limited.

The Note does not bear interest and matures upon the earlier of the closing of an initial business combination by the company and the company?s liquidation.