Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 217

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 217
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 Stock. The potential issuance of additional securities may delay or prevent a change in control of us, discourage bids for our securities at a premium to the market price, and materially and adversely affect the market price and the voting and other rights of the holders of our securities, including StablecoinX Class A Common Stock. StablecoinX’s decision to issue securities in any future offering will 79 depend on market conditions and other factors beyond its control, which may adversely affect the amount, timing or nature of its future offerings. As a result, holders of shares of StablecoinX Class A Common Stock bear the risk that StablecoinX’s future offerings and exercise of any options under any stock option plans that StablecoinX may implement may reduce the market price of StablecoinX Class A Common Stock and dilute their percentage ownership. See the section entitled “ Description of StablecoinX Securities.” Future resales of StablecoinX Class A Common Stock after the consummation of the Business Combination may cause the market price of StablecoinX’s securities to drop significantly, even if StablecoinX’s business is doing well. The Lock -UpAgreements to be entered into at Closing provide that after the consummation of the Business Combination and subject to certain exceptions, the StablecoinX Common Stock received by the Sellers and certain TLGY Insiders will be locked -upand subject to transfer restrictions, as described below, subject to certain exceptions, as described in the section “ The Business Combination Proposal — Related Agreements — Lock -Up Agreements.” However, following the expiration of such lock -up, the Sellers and the TLGY Insiders will not be restricted from selling shares of StablecoinX Common Stock held by them, other than as restricted by applicable securities laws. Although the shares of StablecoinX Common Stock held by Ethena are not subject to contractual lock -uprestrictions, Ethena will be restricted from selling its shares of StablecoinX Common Stock by applicable securities laws, as an “affiliate” of StablecoinX. In addition, pursuant to the Related Agreements, StablecoinX will agree to register for resale, pursuant to Rule 415 under the Securities Act, shares of StablecoinX Class A Common Stock that are held by the TLGY Insiders, the Sellers and Ethena. Pursuant to the Related Agreements, such parties will have customary registration rights, including demand and piggy -backrights. As restrictions on resale end and registration statements (filed after the Closing to provide for the resale of such shares