Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 394

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 394
---
 by the outside date under the TLGY Organizational Documents (which will be April 16, 2026 if and to the extent the period of time to consummate a business combination is extended to the fullest extent possible in accordance with the terms of the TLGY Organizational Documents, or if such date is extended in accordance with the terms of the TLGY Organizational Documents, such later date, the “ Combination Period”) then TLGY will cease all operations, redeem the Public Shares and thereafter dissolve and liquidate. There is no assurance that our plans to consummate the Business Combination will be successful within the Combination Period. The working capital deficit, liquidity conditions and mandatory liquidation raise substantial doubt about the ability to continue as a going concern. The financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should TLGY be unable to continue as a going concern. Results of Operations As of the date of this proxy statement/prospectus, we have neither engaged in any operations nor generated any revenues to date. Our only activities from inception through June 30, 2025 were organizational activities and those necessary to prepare for the IPO, as described below, and, since the completion of our IPO, searching for a target to consummate an initial business combination. We do not expect to generate any operating revenues until after completion of our initial business combination. We generate non -operatingincome in the form of interest income on cash and cash equivalents held in the Trust Account. We incur expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses. For the three months ended June 30, 2025, we had a net loss of $4,987,572 which was primarily due to the general and administrative costs of $341,960 and the change in the fair value of the warrant liability of $4,779,495, partially offset by interest income on funds held in Trust of $133,883. For the three months ended June 30, 2024, we had net income of $11,307 which was primarily due to the interest income on funds held in Trust of $663,042 and forgiveness of debt of $608,665, partially offset by a loss in fair value of the derivative liabilities of $817,066, administration fees — related party of $15,000, and general and administrative costs of $428,334. For the six months ended June 30