Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 553

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 553
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 -freeinterest rate is based on the U.S. Treasury zero -couponyield curve on the grant date for a maturity similar to the expected remaining life of the warrants. The expected life of the warrants is assumed to be equivalent to their remaining contractual term. The subsequent measurements as of December 31, 2024 of the Public Warrants after the detachment of the Public Warrants from the Units are classified as Level 1 due to the use of an observable market quote in an active market. For periods subsequent to the detachment of the Public Warrants from the Units, the publicly traded closing price of the Public Warrants of $0.12 per warrant, was used as the fair value as of the relevant date. The terms of the Private Placement Warrants are analogous to the Public Warrants with the exception that they are not redeemable. As such, these warrants were valued using a modified Black -Scholesmodel. The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the year ended December 31, 2024 and 2023:

|                                                        |     | Fair Value    
 Measurement   
 Using Level 3 
 Inputs Total  |         |
|:-------------------------------------------------------|:----|:--------------|--------:|
| Balance, December 31, 2023                             |     | $             | 188,472 |
| Additions                                              |     |               |       — |
| Change in fair value of derivative warrant liabilities |     |               |  37,844 |
| Balance, December 31, 2024                             |     | $             | 226,316 |

The key inputs into the Monte Carlo simulation model and the modified Black -Scholesmodel to value the derivative warrant liabilities were as follows:

|                                          |     |   | December 31, 
         2024 |   |     |   | December 31, 
         2023 |   |
|:-----------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Share price                              |     | $ |        11.64 |   |     | $ |        11.08 |   |
| Exercise price                           |     | $ |        11.50 |   |     | $ |        11.50 |   |
| Risk-free interest