Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 402

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 402
---
in whole and not in part; •at a price of $0.01 per BSII Warrant; •upon a minimum of 30 days’ prior written notice of redemption to each Black Spade II warrant holder; and •if, and only if, the closing price of the BSII Public Shares equals or exceeds $18.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a BSII Warrant as described under the heading “— Warrants — Public Shareholders’ Warrants — Anti -DilutionAdjustments”) for any 20 trading days within a 30 -tradingday period ending three trading days before Black Spade II sends the notice of redemption to the Black Spade II warrant holders. If and when the BSII Warrants become redeemable by Black Spade II, it may not exercise its redemption right if the issuance of BSII Public Shares upon exercise of the BSII Warrants is not exempt from registration or qualification under applicable state blue sky laws or Black Spade II is unable to effect such registration or qualification. If and when the BSII Warrants become redeemable, Black Spade II may exercise its redemption right even if it is unable to register or qualify the underlying securities for sale under all applicable state securities laws. As a result, Black Spade II may redeem BSII Warrants even if the holders are otherwise unable to exercise their warrants. 261 Black Spade II has established the last of the redemption criterion discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the BSII Warrant exercise price. If the foregoing conditions are satisfied and Black Spade II issues a notice of redemption of the BSII Warrants, each Black Spade II warrant holder will be entitled to exercise his, her or its BSII Warrant prior to the scheduled redemption date. However, the price of the BSII Public Shares may fall below the $18.00 redemption trigger price (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a BSII Warrant as described below under the heading “— Warrants — Public Shareholders’ Warrants — Anti -dilutionAdjustments”) as well as the $11.50 (for whole shares) BSII Warrant exercise price after the redemption notice is issued. If Black Spade II calls the BSII Warrants for redemption as described above, Black Spade II management will have the option to require any