Calvin Kung - May 8, 2023 Form 3 Insider Report for Finnovate Acquisition Corp. (FNVT)

Role: Chief Executive Officer, Director, 10%+ Owner
Signature: /s/ Calvin Kung
Stock symbol: FNVT
Transactions as of: May 8, 2023
Transactions value $: $0
Form type: 3
Date filed: 5/19/2023, 08:12 AM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	FNVT	Class A Ordinary Share						4.24M	May 8, 2023	See footnote	F1, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	FNVT	Class B Ordinary Share							May 8, 2023	Class A Ordinary Share	1		See footnote	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares represent the Class A ordinary shares held by Finnovate Sponsor, LP (the "Sponsor"). The Sponsor acquired these shares pursuant to a subscription agreement dated March 21, 2021 by and between the Sponsor and the Issuer. Such shares were converted from Class B ordinary shares to Class A ordinary shares.
F2	The Class B ordinary share is convertible into Class A ordinary share on a one-for-one basis, subject to certain adjustment, automatically upon the Issuer's initial business combination, or earlier at the election of the holder, and has no expiration date.
F3	The Reporting Person is Chief Executive Officer and Director of the Issuer, and is one of two directors of Sunorange Limited ("Sunorange"). Sunorange became the general partner of the Sponsor pursuant to that certain investment agreement dated April 27, 2023, by and among the Issuer, the Sponsor and Sunorange. The Reporting Person has voting and investment discretion with respect to the securities held by the Sponsor. As such, the Reporting Person may be deemed to share beneficial ownership of the Ordinary Shares held directly by the Sponsor. The Reporting Person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.