Company: TLGYF
Filing Date: 2025-08-13
Form Type: 425
Source: 0001213900-25-075251
Chunk: 32

Company: TLGY ACQUISITION CORP
Filing Date: 2025-08-13
Form: 425
Chunk 32
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 treatment
of crypto assets for U.S. and foreign tax purposes; risks that after consummation of the proposed Business Combination, Pubco experiences
difficulties managing its growth and expanding operations; the risks that launching and growing Pubco’s ENA Token treasury advisory
and services in digital marketing and strategy could be difficult; challenges in implementing Pubco’s business plan, due to operational
challenges, significant competition and regulation; being considered to be a “shell company” by any stock exchange on which
Pubco’s Class A Common Stock will be listed or by the SEC, which may impact Pubco’s ability to list its securities and restrict
reliance on certain rules or forms in connection with the offering, sale or resale of securities; the outcome of any potential legal proceedings
that may be instituted against Pubco, SC Assets, TLGY or others following announcement of the proposed Business Combination, and those
risk factors discussed in documents that Pubco and/or TLGY has filed, or will file, with the SEC. The foregoing list of risk factors is
not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk
Factors” section of The Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q that have been and/or will be filed by TLGY
with the SEC from time to time, the Registration Statement that will be filed by Pubco and TLGY and the proxy statement/prospectus contained
therein, and other documents that have been or will be filed by TLGY and Pubco from time to time with the SEC. These filings do or will
identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those
contained in the forward-looking statements. There may be additional risks that neither TLGY, SC Assets nor Pubco presently know or that
TLGY, SC Assets and Pubco currently believe are immaterial that could also cause actual results to differ from those contained in the
forward-looking statements.

<div align='center'>19</div>

Forward-looking statements speak only as of the
date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and each of TLGY, SC Assets, and Pubco
assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future
events, or otherwise. Neither TLGY, SC Assets, nor Pubco gives any assurance that any of TLGY,