Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 400

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 400
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iv) disclose certain executive compensation related items such as the correlation between executive compensation and performance and comparisons of the CEO’s compensation to median employee compensation. These exemptions will apply for a period of five years following the completion of our IPO or until we are no longer an “emerging growth company,” whichever is earlier. 190 INFORMATION ABOUT SC ASSETS Unless otherwise indicated or the context otherwise requires, references in this section of the proxy statement / prospectus to “we”, “our”, or the “Company” and similar terms refer to SC Assets’ business (or StablecoinX’s) after the Business Combination, shall generally refer to SC Assets before the Business Combination or StablecoinX after the Business Combination, respectively. Overview The Company was formed solely to participate in the Business Combination and is a newly formed operating company that intends to focus its operations on providing validator and infrastructure services for the Ethena Protocol, a decentralized finance (“ DeFi”) network. The Company has no existing business currently and anticipates that its core operations will include running validator nodes and delivering related technical services to support the Ethena protocol’s network security, transaction validation, and overall functionality. Additionally, StablecoinX will adopt a multi -yeartreasury strategy designed to accumulate and hold ENA Tokens, the native token of the Ethena Protocol, starting with the ENA Token it will receive in connection with the closing of the PIPE and ENA Contribution, to ensure long -termfinancial stability and alignment with the growth of the Ethena ecosystem. SC Assets was incorporated in Delaware on June 30, 2025, and is in the early stages of organizational development. Our Business Strategy StablecoinX’s primary business objective will be to establish itself as a reliable and efficient provider of validator and infrastructure services within the Ethena ecosystem. The Company plans to operate validator infrastructure supporting the Ethena Protocol on the planned Converge Layer -1blockchain, which is a new blockchain designed to support and advance DeFi and tokenized assets developed jointly by Ethena Labs and Securitize, where the ENA Token are expected to be used as the governance token. The Company plans to use the ENA Tokens in its treasury as collateral for the node validation operations, earning staking rewards in the form of additional ENA Tokens. These rewards are expected to form a significant portion of the Company’s revenue stream. The technical services offered, such as node maintenance, network optimization, and protocol upgrades, aim to enhance the proposed Converge network’s scalability and security