Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 174

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 174
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 Black Spade and certain employees of certain affiliates of the Sponsor. In aggregate, the Sponsor currently holds 3,266,217 Founder Shares, and the Initial Shareholders collectively hold 3,825,000 Founder Shares. Such Founder Shares held by the Initial Shareholders would become worthless if Black Spade II does not complete a business combination within the applicable time period, as the Initial Shareholders waived any right to redemption with respect to these shares. Such Founder Shares have an aggregate market value of approximately $ based on the closing price of the BSII Class A Ordinary Shares of $ on Nasdaq on , 2025. Such Founder Shares will be cancelled and in exchange thereof entitle their holders to receive in aggregate TGE Ordinary Shares (including TGE Ordinary Shares for the Sponsor) in connection with the Business Combination and have an aggregate value of $ (including an aggregate value of $ for TGE Ordinary Shares to be held by the Sponsor), based upon the per share value implied in the Business Combination of $10.00 per TGE Ordinary Share. Under the Sponsor Support Agreement, the Sponsor, in its capacity as the holder of at least majority of the BSII Class B Ordinary Shares, has agreed to waive any anti -dilutionadjustment to the conversion ratio set forth in the Black Spade II Articles with respect to BSII Class B Ordinary Shares that may result from the issuance of TGE Ordinary Shares in connection with the Business Combination or any private placement or placements in relation to the Business Combination. •Simultaneously with the closing of Black Spade II’s IPO, the Sponsor purchased an aggregate of 11,000,000 Private Placement Warrants in a private placement of Black Spade II, generating gross proceeds to Black Spade of $5,500,000. 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 would become worthless if Black Spade II does not complete a business combination within the required time period. Such warrants have an aggregate market value of approximately $ , based on the closing price of the Public Warrants of $ , on Nasdaq on , 2025. 105 •The Sponsor will benefit from the completion of a business combination and may be incentivized to complete an acquisition of a less favorable target company or on terms less favorable to shareholders