Company: TGE
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001213900-25-057225
Chunk: 257

Company: Generation Essentials Group
Filing Date: 2025-06-24
Form: F-1
Chunk 257
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 | 253,969 |
| Equity:                                                                                    |     |       |     |            |         |
| Fair value of Public Warrants for Class A ordinary shares subject to redemption allocation |     |     3 |     | $          | 545,000 |

The over-allotment option was accounted for as a
liability in accordance with ASC 815-40 and was presented within liabilities on the balance sheet. The over-allotment option liability
is measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of over-allotment
option liability in the statement of operations. Upon the partial exercise of the over-allotment option by the underwriters on September 26,
2024, the Company recorded $221,227 unrealized gain on change in fair value of over-allotment liability.

The Company used a Black-Scholes model to value
the over-allotment option. The over-allotment option liability was classified within Level 3 of the fair value hierarchy at the measurement
dates due to the use of unobservable inputs inherent in pricing models are assumptions related to expected share-price volatility, expected
life and risk-free interest rate. The Company estimates the volatility of its ordinary share based on historical volatility that matches
the expected remaining life of the option. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the
grant date for a maturity similar to the expected remaining life of the option. The expected life of the option is assumed to be equivalent
to their remaining contractual term.

The key inputs into the Black-Scholes model were
as follows at initial measurement of the over-allotment option:

| Input                             |     | August 29, 
 2024       |       |   |
|:----------------------------------|:----|:-----------|------:|:--|
| Risk-free interest rate           |     |            |  5.40 | % |
| Expected term (years)             |     |            |  0.12 |   |
| Expected volatility               |     |            |  5.42 | % |
| Exercise price                    |     | $          | 10.00 |   |
| Fair value of over-allotment Unit |     | $          | 0.113 |   |

The following table provides a summary of the changes
in the fair value of the Company’s Level 3 financial instruments that are measured at fair