Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 533

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 533
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 not be reflective of the price at which they can be settled. Such warrant classification is also subject to re -evaluationat each reporting period. Recent Accounting Standards In June 2016, the Financial Accounting Standards Bureau (“FASB”) issued Accounting Standards Update 201 6 — 13–“ Financial Instruments — Credit Losses” (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016 -13”). This update requires financial assets measured at amortized cost basis to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. Since June 2016, FASB issued clarifying updates to the new standard including changing the effective date for smaller reporting companies. The guidance is effective for fiscal years F-45 TLGY ACQUISITION CORPORATION
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2024 NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) beginning after December 15, 2022, and interim periods within those fiscal years, with early adoption permitted. We adopted ASU 2016 -13on January 1, 2023. The adoption of ASU 2016 -13did not have a material impact on its financial statements. In December 2023, the FASB issued ASU 2023 -09, Income Taxes (Topic 740): “ Improvements to Income Tax Disclosures” (ASU 2023 -09), which requires disclosures of incremental income tax information within the rate reconciliation and expanded disclosures of income taxes paid, among other disclosure requirements. ASU 2023 -09is effective for the fiscal year beginning after December 15, 2024. Early adoption is permitted. The Company’s management does not believe the adoption of ASU 2023 -09will have a material impact on its financial statements and disclosures. In November 2023, the FASB issued Accounting Standards Update 2023 -07— Segment Reporting — Improvements to Reportable Segment Disclosures (“ASU 2023 -07”). This update requires public entities to disclose its significant segment expense categories and amounts for each reportable segment. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. As of December 31, 202