Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 451

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 451
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 long -termfinancial stability and align our interests with the growth of the Ethena ecosystem. The Company may, subject to network launch, protocol rules, governance decisions and economic considerations, use a portion of its ENA Token holdings in connection with validator or other protocol -alignedactivities, which could include staking or similar mechanisms that may generate rewards in the form of additional ENA Tokens. At this time, the Company has not finalized the structure, scope, or timing of any staking or similar program, and there can be no assurance that any such program will be implemented or generate rewards. The Company’s ability to generate revenue sufficient to achieve profitability after the Closing will largely depend on a combination of factors, including the market price of ENA Tokens, the successful deployment and scale of its infrastructure software and services, its ability to efficiently provide technical and infrastructure software and services to ecosystem participants and, if available, its ability to participate in validator, staking or other protocol -basedincentive mechanisms. The Company does not currently generate revenue and may not generate any revenue for an extended period, or at all. Business Combination with TLGY On July 21, 2025, the Company entered into the Business Combination Agreement with TLGY, StablecoinX, and two wholly -ownedsubsidiaries of StablecoinX — SPAC Merger Sub and Company Merger Sub — to create a publicly traded company focused on infrastructure, staking, and treasury activities for the Ethena Protocol. Pursuant to the Business Combination Agreement, (1) TLGY will, subject to the terms of the Business Combination Agreement, merge with and into SPAC Merger Sub, with SPAC Merger Sub continuing as the surviving company (provided that, if the parties determine that it is advisable for TLGY to be the surviving company, then the SPAC Merger Sub will merge with and into TLGY, with TLGY continuing as the surviving company), as a result of which the holders of TLGY Ordinary Shares will receive one share of StablecoinX Class A Common Stock for each TLGY Class A Ordinary Share held by such shareholder, and (2) immediately thereafter, Company Merger Sub will merge with and into the Company, with the Company continuing as the surviving company, as a result of which the holders of shares of SC Assets Class A Common Stock will receive one share of StablecoinX Class A Common Stock for each share of SC Assets Class A Common Stock held by such holder and the holders of shares of SC Assets Class B Common Stock will receive