Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 106

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 106
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 token, the fair value of ENA Token ending December 22, 2025, it is expected that (1) Ethena will own approximately 5,080,329 shares of StablecoinX Class B Common Stock, representing approximately 65.4% of the voting power, (2) the TLGY Insiders will own an aggregate of approximately 1,994,251 shares of StablecoinX Class B Common Stock, representing approximately 25.6% of the voting power, and (3) the Sellers will own an aggregate of 700,000shares of StablecoinX Class B Common Stock, representing approximately 9.0% of the voting power, in each case, of the capital stock of StablecoinX. Public Shareholders and the PIPE Investors will have no voting power in StablecoinX immediately following the Closing. See the section entitled “ The Business Combination Proposal — Related Agreements” for additional information. Dilution The following table presents the net tangible book value per share at various redemption levels assuming various sources of material probable dilution (but excluding the effects of the Business Combination transaction itself).

|                                                                                                                                   |     |             No 
 Redemptions(1) 
          Total 
         Shares |     | Tangible  
 Book      
 Value     
 Per Share |        |   |     |           50% 
 Redemption(2) 
         Total 
        Shares |   |     | Tangible  
 Book      
 Value Per 
 Share     |        |   |     |       Maximum 
 Redemption(3) 
         Total 
        Shares |   |     | Tangible  
 Book      
 Value     
 Per Share |        |   |
|:----------------------------------------------------------------------------------------------------------------------------------|:----|---------------:|:----|:----------|-------:|:--|:----|--------------:|:--|:----|:----------|-------:|:--|:----|--------------:|:--|:----|:----------|-------:|:--|
| Balance as of September 30, 2025 (unadjusted)                                                                                     |     |      5,939,587 |     | $         |  (4.67 | ) |     |     5,939,587 |   |     | $         |  (4.67 | ) |     |     5,939,587 |   |     | $         |  (4.67 | ) |
| Accretion (Dilution) of TLGY Shareholders assuming the Redemption of Shares