Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 396

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 396
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000, which was paid at the closing of the IPO. In addition, the underwriters have agreed to defer underwriting commissions of 3.5% of the gross proceeds of the IPO of 20,000,000 units and underwriting commissions of 5.5% of the gross proceeds of the over -allotmentoption units of 3,000,000 units, or $8,650,000 in aggregate, which will be paid to the underwriters from the funds held in the trust account upon and concurrently with the completion of our initial business combination. In May 2024, TLGY entered into the Mizuho Waiver, pursuant to which Mizuho agreed to waive the Deferred Underwriting Fees and agreed to forfeit all of the 300,300 TLGY Class B Ordinary Shares received by it as compensation in connection with the IPO. Mizuho completed the forfeiture of such Founder Shares on June 30, 2025. We believe that Mizuho was acting as the representative of all of the underwriters on the IPO when it waived the Deferred Underwriting Fees. The forfeiture of the 300,300 TLGY Class B Ordinary Shares was completed on June 30, 2025 and is reflected in the condensed statement of changes in shareholders deficit. Legal Fees TLGY has an agreement in place whereby if its prior legal counsel for the IPO assists in the initial business combination, payment of their charges plus a success premium to be agreed is contingent on a successful de -SPACclosing or recovery under certain cost coverage provisions in the merger agreement. In connection with the Securities Transfer Transaction, TLGY entered into a waiver with its prior legal counsel on May 2, 2024. Pursuant to the waiver, TLGY shall pay its prior legal counsel a sum of $130,000 as full and final payment for all remaining costs and expenses of all kinds and nature incurred under and pursuant to their engagement, solely in the event of a consummation by the Company of its initial business combination. In accordance with Accounting Standards Codification (“ ASC”) 805, Business Combinations, this fee will not be recorded until such time as a business combination is consummated. Critical Accounting Estimates and Policies: The preparation of financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and income and expenses during the periods reported. Actual results could materially differ from those estimates