Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 449

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 449
---
 the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless. The Private Placement Warrants (including Class A ordinary shares issuable upon exercise of the Private Placement Warrants) are not transferable, assignable or saleable until 30 days after the completion of an Initial Business Combination, subject to certain exceptions. NOTE 5 — RELATED PARTY TRANSACTIONS Founder Shares On May 21, 2024, the Sponsor purchased 4,312,500 of the Company’s Class B ordinary shares (the “Founder Shares”) in exchange for a capital contribution of $25,000 that was paid by the Sponsor for deferred offering costs. The Founder Shares include an aggregate of up to 562,500shares subject to forfeiture to the extent that the underwriters’ over -allotmentis not exercised in full or in part, so that the number of Founder Shares will equal, on an as -convertedbasis, approximately 20% of the Company’s issued and outstanding ordinary shares after the Initial Public Offering. On September 26, 2024, the underwriters partially exercised their over -allotmentoption and purchased an additional 300,000 Units. Due to the partial exercise and the decision to forfeit the remaining option, 487,500 Class B ordinary shares were forfeited and the Sponsor subsequently holds 3,825,000 Founder Shares. On August 20, 2024, the Sponsor transferred a total of 630,000 Founder Shares to directors, officers and certain employees of Sponsor’s affiliates, at a price of $0.006 per share. The sale of the Founders Shares to each of the directors, officers and certain employees of Sponsor’s affiliates is in the scope of FASB ASC Topic 718, “Compensation -StockCompensation” (“ASC 718”). Under ASC 718, stock -basedcompensation associated with equity -classifiedawards is measured at fair value upon the grant date. The fair value of the 630,000shares granted F-14 BLACK SPADE ACQUISITION II CO NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024 NOTE 5 — RELATED PARTY TRANSACTIONS (cont.) to the directors, officers and certain employees of Sponsor’s affiliates was $1,096,200 or $1.74 per share. The Founders Shares were granted subject to a performance condition (i.e., the occurrence of a Business Combination). Compensation expense related to the Founders Shares