Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 279

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 279
---
 completion of our initial business combination; (ii) the redemption of our Public Shares if we are unable to complete our initial business combination within the Completion Window, subject to applicable law, or (iii) the redemption of any Public Shares properly submitted in connection with a shareholder vote to amend the Black Spade II Articles (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of the BSII Public Shares if we have not consummated an initial business combination within the Completion Window or (B) with respect to any other provisions relating to shareholders’ rights or pre -initialbusiness combination activity. The proceeds deposited in the Trust Account could become subject to the claims of our creditors, if any, which could have priority over the claims of our Public Shareholders. The proceeds held in the Trust Account will be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a -7under the Investment Company Act that invest only in direct U.S. government treasury obligations. Except as described in the prospectus for our Initial Public Offering and in the section titled “Black Spade II’s Management’s Discussion and Analysis of Financial Condition and Results of Operations,” these proceeds will not be released until the earlier of the completion of an initial business combination and our redemption of 100% of the outstanding Public Shares upon our failure to consummate a business combination within the required time period. Fair Market Value of Target Business The target business or businesses that we acquire must collectively have a fair market value equal to at least 80% of the net assets held in the Trust Account at the time of the execution of a definitive agreement for our initial business combination, although we may acquire a target business whose fair market value significantly exceeds 80% of the Trust Account balance. The Board determined that this test was met in connection with the proposed Business Combination with aWME. Shareholder Approval of Business Combination Under the Black Spade II Articles, in connection with any proposed business combination, we must seek shareholder approval of an initial business combination at a meeting called for such purpose at which Public Shareholders may seek to redeem their Public Shares for cash, regardless of whether they vote for or against the 168 proposed business combination, subject to the limitations described in the prospectus for our Initial Public Offering. Accordingly, in connection with the Business Combination with aWME, the Black Spade II Public Shareholders may seek to redeem their Public