Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 255

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 255
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 with and into SC Assets, with SC Assets continuing as the surviving company. As a result of the Mergers and the other transactions contemplated by the Business Combination Agreement, and the documents related thereto, TLGY and SC Assets will become wholly -ownedsubsidiaries of StablecoinX and StablecoinX will become a publicly traded company. The following diagram illustrates in simplified terms the current structure of TLGY, SC Assets and StablecoinX. Simplified Pre-Combination Structure The following diagram illustrates in simplified terms the expected structure of StablecoinX immediately following the Closing.The percentages shown reflect the economic interests in StablecoinX on a combined basis, assuming no additional redemptions. Please see the section entitled “ Unaudited Pro Forma Condensed Combined Financial Information — Basis of Pro Forma Presentation” for additional assumptions used in calculating such percentages. 96 Simplified Post-Combination Structure (Assuming No Redemptions) ____________ (1)The number of shares of StablecoinX Class A Common Stock does not include the 3,528,827 shares of StablecoinX Class A Common Stock to be issued to Ethena OpCo as one of the Additional PIPE Investors. Exchange of Securities Pursuant to the Business Combination Agreement, prior to the Effective Time, (1) each TLGY Unit will be separated into its component parts, and (2) pursuant to the TLGY Organizational Documents and the Sponsor Support Agreement, each TLGY Class B Ordinary Share issued and outstanding will be automatically converted into one TLGY Class A Ordinary Share. Subject to, and in accordance with the terms and conditions of the Business Combination Agreement, immediately following such conversion and in connection with the SPAC Merger: (i)each issued and outstanding TLGY Class A Ordinary Share will be exchanged, on a one -for -onebasis, for one share of StablecoinX Class A Common Stock, following which, all such TLGY Class A Ordinary Shares will cease to be outstanding and will automatically be canceled and shall cease to exist and the holders of TLGY Class A Ordinary Shares outstanding immediately prior to the SPAC Merger will cease to have any rights with respect to such shares, except as provided herein or by law; (ii)each then issued and outstanding whole Public Warrant (including those resulting from the Unit Separation) and Private Placement Warrant will automatically become one warrant to purchase StablecoinX Class A Common Stock, in each case, in accordance with its terms; and (iii)each issued and outstanding TLGY