Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 424

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 424
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 Private Placement Warrants are identical to the warrants sold in Black Spade II’s IPO except that the Private Placement Warrants, so long as they are held by the Sponsor or its permitted transferees, (i) are not redeemable by Black Spade II, (ii) may not (including the BSII Class A ordinary shares issuable upon exercise of these warrants), subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of the initial business combination, (iii) may be exercised by the holders on a cashless basis and (iv) are entitled to registration rights. The Private Placement Warrants (including the BSII Class A ordinary shares issuable upon exercise thereof) may not, subject to certain limited exceptions, be transferred, assigned or sold by the holder. Pursuant to a letter agreement with the Sponsor, Black Spade II has agreed not to enter into a definitive agreement regarding a business combination without the prior written consent of the Sponsor. Black Spade II currently utilize office space at Suite 2902, 29/F, The Centrium, 60 Wyndham Street, Central, Hong Kong from the Sponsor as its executive offices. Commencing on the date that BSII Securities are first listed on Nasdaq through the earlier of consummation of its initial business combination and its liquidation, Black Spade II pay the Sponsor or an affiliate of up to $20,000 per month for office space, utilities, secretarial and administrative support services provided to members of its management team. No compensation of any kind, including finder’s and consulting fees, will be paid by Black Spade II to the Sponsor, officers and directors, or any of their respective affiliates, for services rendered prior to or in connection with the completion of an initial business combination. However, these individuals will be reimbursed for any out -of -pocketexpenses incurred in connection with activities on Black Spade II’s behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Black Spade II’s audit committee will review on a quarterly basis all payments that were made to the Sponsor, officers, directors or Black Spade II’s or their affiliates. On May 21, 2024, the Sponsor issued an unsecured promissory note to Black Spade II (the “Promissory Note”), pursuant to which Black Spade II may borrow up to an aggregate principal amount of $250,000. The Promissory Note was non -interestbearing and payable