Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 451

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 451
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 under the Promissory Note and the note is no longer available. Administrative Services Agreement The Company entered into an agreement, commencing on August 23, 2024, through the earlier of the consummation of the initial Business Combination and liquidation, to pay Sponsor $20,000 per month for office space, utilities and secretarial and administrative support services. For the period from May 9, 2024 (inception) through December 31, 2024, the Company incurred $86,000 in fees for these services, of which $40,000 was unpaid and included in due to related party in the accompanying balance sheet as of December 31, 2024. Working Capital Loans In order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). Such Working Capital Loans would be evidenced by promissory notes. The notes may be repaid upon completion of a Business Combination, without interest, or, at the lender’s discretion, up to $2,000,000 of the notes may be converted upon completion of a Business Combination into warrants at a price of $0.50 per warrant. Such warrants would be identical to the Private Placement Warrants. In the event that F-15 BLACK SPADE ACQUISITION II CO NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024 NOTE 5 — RELATED PARTY TRANSACTIONS (cont.) a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. As of December 31, 2024, there were no amounts outstanding under the Working Capital Loans. NOTE 6 — COMMITMENTS AND CONTINGENCIES Risk and Uncertainties The United States and global markets are experiencing volatility and disruption following the geopolitical instability resulting from the ongoing Russia -Ukraineconflict and the recent escalation of the Israel -Hamasconflict. In response to the ongoing Russia -Ukraineconflict, the North Atlantic Treaty Organization (“NATO”) deployed additional military forces to eastern Europe, and the United States, the United Kingdom, the European Union and other countries have announced various sanctions and restrictive actions against Russia, Belarus and related individuals and entities, including the removal of certain financial institutions from the Society