Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 7

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 7
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DC or USDT (collectively, “ Cash” and the aggregate PIPE proceeds paid in Cash thereunder, the “ Initial Cash PIPE Proceeds”) on or prior to the date of such PIPE subscription agreements, in each case, in accordance with the terms of such subscription agreements (as they may be further amended, modified, supplemented or otherwise modified from time to time in accordance with their terms, the “ Initial PIPE Subscription Agreements”). Concurrently with the execution of the Initial PIPE Subscription Agreements and to facilitate the transactions contemplated thereby, SC Assets, solely in its capacity as administrative agent (the “ Initial PIPE Administrative Agent”) for the Initial PIPE Investors who paid Cash for their PIPE Shares (the “ Initial Cash PIPE Investors”), and Ethena OpCo entered into a token purchase agreement (as it may be further amended, modified, supplemented or otherwise modified from time to time in accordance with its terms, the “ Initial Token Purchase Agreement”), pursuant to which, among other things, Ethena OpCo agreed to sell to SC Assets, solely in its capacity as Initial PIPE Administrative Agent, Locked ENA Token valued at $0.21056 per token, which represents a 30% discount to the fair market value of $0.3008 per token at the signing of the Initial Token Purchase Agreement, in an aggregate amount equal to the Initial Cash PIPE Proceeds less up to $2.5 million of permitted transaction expenses (the “ Permitted Transaction Expenses” and such net amount, the “ Initial Net Cash PIPE Proceeds”), which Locked ENA Token was deposited by Ethena OpCo into a separate custodial account (the “ Custodial Account”) established by the Initial PIPE Administrative Agent for the benefit of the Initial Cash PIPE Investors at Anchorage National Bank N.A. (“ Anchorage”), with Anchorage serving as custodian (the “ Custodian”), on or shortly after the date of the Initial Token Purchase Agreement (the “ Initial Token Purchase Date”). The Locked ENA Token purchased pursuant to the Initial Token Purchase Agreement may not be transferred for a period of 48 months after the Initial Token Purchase Date, subject to earlier unlock and release from such transfer restrictions as follows: (i) 25% of the Locked ENA Token will be unlocked on the 12month anniversary of the Initial Token Purchase Date and (ii) the remaining 75% of the Locked ENA Token will be unlocked in 36 equal monthly installments thereafter. On September 5, 2025, TLGY, SC Assets and StablecoinX entered