Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 185

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 185
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 custodian’s insolvency estate if one or more of our custodians enters bankruptcy, receivership or similar insolvency proceedings. If our custodially -heldENA Token were nevertheless considered to be the property of our custodians’ estates, and in the event that any such custodians were to enter bankruptcy, receivership or similar insolvency proceedings, we could be treated as a general unsecured creditor of such custodians, inhibiting our ability to exercise ownership rights with respect to such ENA Token. This may ultimately result in the loss of the value related to some or all of such ENA Token. Even if we are able to prevent our ENA Token from being considered the property of a custodian’s bankruptcy estate as part of an insolvency proceeding, it is possible that we would still be delayed or may otherwise experience difficulty in accessing our ENA Token held by the affected custodian during the pendency of the insolvency proceedings. Any such outcome could have a material adverse effect on our financial condition and the market price of the shares of StablecoinX Class A Common Stock. Our primary counterparty risk with respect to our ENA Token is expected to be custodian performance obligations under the custody arrangements we have entered into and will enter into in the future. Additionally, our validator business relies on third -partytechnology and managed services. If we pursue any strategies to create third -partyincome streams or otherwise generate other funds using our ENA Token holdings, we would become subject to additional counterparty risks. Any significant non -performanceby counterparties, including in particular the custodians with which we custody substantially all of our ENA Token or our third -partytechnology service providers, could have a material adverse effect on our business, prospects, financial condition and operating results. See “ SC Assets currently faces and, following the Closing, StablecoinX will face, risks relating to the custody of its ENA Token, including the loss or destruction of private keys required to access our ENA Token and cyberattacks or other data loss relating to our ENA Token. If SC Assets, StablecoinX or its third -party service providers, including Anchorage, experience a security breach or cyberattack and unauthorized parties obtain access to SC Assets’ or StablecoinX’s ENA Token, or if SC Assets’ or StablecoinX’s private keys are lost or destroyed, or other similar circumstances or events occur, including the ability to reverse engineer private keys, SC Assets or StablecoinX may lose some or all of its ENA