Company: TLGYF
Filing Date: 2025-03-26
Form Type: PRE 14A
Source: 0001104659-25-028287
Chunk: 15

Company: TLGY ACQUISITION CORP
Filing Date: 2025-03-26
Form: PRE 14A
Chunk 15
---
215 Founder Shares and 3,940,825 Private Placement Warrants that were purchased from the former sponsor. As a consequence, a liquidating distribution will be made only with respect to the public shares. If the Company liquidates, the Sponsors have agreed that they will be liable to us if and to the extent any claims by a third party for services rendered or products sold to us, or a prospective target business with which we have entered into a written letter of intent, confidentiality or similar agreement or business combination agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.20 per public share and (ii) the actual amount per public share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.20 per share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under our indemnity of the underwriters of this offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). However, we have not asked our Sponsors to reserve for such indemnification obligations, nor have we independently verified whether our Sponsors have sufficient funds to satisfy its indemnity obligations. Therefore, we cannot assure you that our Sponsors would be able to satisfy those obligations. Based upon the amount in the Trust Account as of the record date, we anticipate that the per-share price at which public shares will be redeemed from cash held in the Trust Account will be approximately $[ ]. Nevertheless, the Company cannot assure you that the per share distribution from the Trust Account, if the Company liquidates, will not be less than $[ ], plus interest, due to unforeseen claims of creditors.

The amount in the Trust Account (less the aggregate nominal par value of the shares of our holders of public shares) under the Companies Act will be treated as a share premium which is distributable under the Companies Act, provided that immediately following the date on which a proposed distribution is proposed to be made, we are able to pay our debts as they fall due in the ordinary course of business. If we are forced to enter into an insolvent liquidation, any distributions received by shareholders could be viewed as an unlawful payment if it was