Company: TLGYF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108215
Chunk: 42

Company: TLGY ACQUISITION CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 42
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unable to continue as a going concern.

Off-balance Sheet Arrangements; Commitments
and Contractual Obligations

As of September 30, 2025, we
did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and did not have any commitments or
contractual obligations other than obligations disclosed herein.

27

Contractual Obligations

IPO Registration Rights

In connection with the IPO,
the holders of the Founder Shares (including any Class A ordinary shares issued upon conversion of Class B ordinary shares), private
placement warrants and any warrants that may be issued upon conversion of the working capital loans and loans made to extend our time
period for consummating an initial business combination (and in each case holders of their component securities, as applicable) entered
into a registration rights agreement, which requires us to register a sale of any of our securities held by them on November 30, 2021,
as supplemented by a joinder to the registration rights agreement on June 20, 2024, requiring us to register such securities for resale
(in the case of the Founder Shares, only after conversion to our Class A ordinary shares). Pursuant to the terms of that agreement, the
holders of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities.
In addition, the holders had “piggy-back” registration rights to include their securities in other registration statements
filed by the Company. We agreed to bear the expenses incurred in connection with the filing of any such registration statements.

Underwriting Agreement

The underwriters of our IPO
were entitled to a cash underwriting discount of 2.0% of the gross proceeds of the IPO, or $4,000,000, which was paid at the closing
of the IPO. In addition, the underwriters have agreed to defer underwriting commissions of 3.5% of the gross proceeds of the IPO of 20,000,000
units and underwriting commissions of 5.5% of the gross proceeds of the over-allotment option units of 3,000,000 units, or $8,650,000
in aggregate (the “Deferred Underwriting Fees”), which will be paid to the underwriters from the funds held in the trust
account upon and concurrently with the completion of our initial business combination. In May 2024, the Company entered into a certain
waiver with