Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 309

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 309
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     | 6,783 shares of StablecoinX Class A Common Stock and 6,783 shares of StablecoinX Class B Common Stock in connection with the Sponsors Securities Exchange.                                                                                                                                      |     | Exchange of 20,000 Founder Shares, which each person is entitled to receive from the Current Sponsors for his or her service on the TLGY Board. |
| Officers and Directors                                    |     | Reimbursement for any out-of-pocket expenses related to identifying, investigating, negotiating and completing an initial business combination. There is no cap or ceiling on the reimbursement of out-of-pocket expenses incurred by such persons in connection with activities on our behalf. |     |                                          Services in connection with identifying, investigating and completing an initial business combination. |

Benefits and Detriments of the Business Combination The following describe the potential benefits and detriments to certain groups of stakeholders in connection with the Business Combination: • TLGY: The TLGY Board determined that the Business Combination presents an attractive business opportunity in light of certain factors, including SC Assets’ future business and financial condition and prospects, strong management team, opportunity to gain exposure to the potential growth in the stablecoin market through Ethena’s ecosystem and governance token, and in light of the other opportunities for business combinations reasonably available to TLGY. The TLGY Board also considered the potential detriments of the Business Combination to TLGY, including the reliance on projections, the uncertainty of the potential benefits of the Business Combination being achieved, macroeconomics risks, the absence of possible structural protections for minority shareholders, the risks associated with the volatility of the ENA Token price, the uncertainty as to the launch dates of the proposed Converge network or other validation opportunities in the Ethena ecosystem utilizing ENA Token, regulatory uncertainty on the treatment of digital assets, and the risks and costs to TLGY if the Business Combination is not achieved, including the risk that it may result in TLGY being unable to complete a business combination and force TLGY to redeem the Public Shares for a pro rata portion of the funds held in the Trust Account, subject to its obligations under Cayman Islands law to provide for claims of creditors and the requirement of other applicable law, and the TLGY Warrants to expire worthless. For more information, see “— The TLGY Board’s Reasons for the Approval of the Business Combination”, and various risks described under the section entitled “ Risk Factors”. • Former Sponsor: The Former Sponsor expects to receive substantial consideration in the Business Combination, including 427,709 shares