Company: TLGYF
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001104659-25-032443
Chunk: 29

Company: TLGY ACQUISITION CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 29
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 may also be forced to abandon our efforts to complete an initial business combination, and instead be required to liquidate the Trust Account. In which case, our investors would not be able to realize the benefits of owning shares in a successor operating business, including the potential appreciation in the value of our securities following such a transaction, and our warrants would expire worthless.

Since the Sponsors and our directors and officers will lose their entire investment in us if an initial business combination is not completed, they may have a conflict of interest in the approval of the proposals at the Extraordinary General Meeting.

There will be no distribution from the Trust Account with respect to the Founder Shares or the Company’s warrants, which will expire worthless in the event of our winding up. As a consequence, a liquidating distribution will be made only with respect to the public shares. Our current Sponsors beneficially own an aggregate of 4,126,215 Founder Shares and Jin-Goon Kim, the Chairman of our Board of Directors and the manager of the manager of our former sponsor, TLGY Sponsors LLC, beneficially owns 981,552 Founder Shares. In addition, our current Sponsors own an aggregate of 3,940,825 Private Placement Warrants and the former sponsor owns 7,318,675 Private Placement Warrants. All of such persons have waived their rights to liquidating distributions from the Trust Account with respect to these securities, and therefore, all of such investments would expire worthless if an initial business combination is not consummated. Additionally, such persons can earn a positive rate of return on their overall investment in the combined company after an initial business combination, even if other holders of our ordinary shares experience a negative rate of return, due to having initially purchased the Founder Shares for a nominal amount. Our Sponsors, former sponsor and our directors and officers may therefore have interests different from, or in addition to, your interests as a shareholder in connection with the proposals at the Extraordinary General Meeting. See “ The Extension Proposal — Interests of our Sponsors, former sponsor and our officers and directors ” for additional information with respect to potential conflicts of interest.

We may not be able to complete an initial business combination since such initial business combination may be subject to regulatory review and approval requirement, including foreign investment regulations and review by government entities such as the Committee on Foreign Investment in the United States (“CFIUS”), or may be ultimately prohibited.

Our initial business combination may be subject to regulatory review and approval requirements by governmental entities, or ultimately prohibited. For example,