Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 427

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 427
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2024, the Sponsor transferred a total of 630,000 Founder Shares to directors, officers and certain employees of Sponsor’s affiliates, at a price of $0.006 per share. Substantially concurrently with the completion of Black Spade II’s IPO, the Sponsor purchased an aggregate of 11,000,000 Private Placement Warrants at a price of $0.50 per Private Placement Warrant, generating gross proceeds of $5,500,000 in the aggregate. Also in connection with the partial exercise of the over -allotmentoption, the Sponsor purchased an additional 120,000 Private Placement Warrants at a purchase price of $0.50 per Private Placement Warrant, generating additional gross proceeds to Black Spade II of $60,000. The Private Placement Warrants are identical to the warrants sold in Black Spade II’s IPO except that the Private Placement Warrants, so long as they are held by the Sponsor or its permitted transferees, (i) are not redeemable by Black Spade II, (ii) may not (including the BSII Class A ordinary shares issuable upon exercise of these warrants), subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of the initial business combination, (iii) may be exercised by the holders on a cashless basis and (iv) are entitled to registration rights. The Private Placement Warrants (including the BSII Class A ordinary shares issuable upon exercise thereof) may not, subject to certain limited exceptions, be transferred, assigned or sold by the holder. Pursuant to a letter agreement with the Sponsor, Black Spade II has agreed not to enter into a definitive agreement regarding a business combination without the prior written consent of the Sponsor. Black Spade II currently utilize office space at Suite 2902, 29/F, The Centrium, 60 Wyndham Street, Central, Hong Kong from the Sponsor as its executive offices. Commencing on the date that BSII Securities are first listed on Nasdaq through the earlier of consummation of its initial business combination and its liquidation, Black Spade II pay the Sponsor or an affiliate of up to $20,000 per month for office space, utilities, secretarial and administrative support services provided to members of its management team. No compensation of any kind, including finder’s and consulting fees, will be paid by Black Spade II to the Sponsor, officers and directors, or any of their respective affiliates, for services rendered prior