Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 7

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 7
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 to elect to rely, and may rely, on certain exemptions from corporate governance rules, including (i) an exemption from the rule that a majority of its board of directors must be independent directors; (ii) an exemption from the rule that director nominees must be selected or recommended solely by independent directors; (iii) an exemption from the rule that the compensation committee must be comprised solely of independent directors and (iv) an exemption from the requirement that an audit committee be comprised of at least three members under. The Generation Essentials Group is not an operating company but a holding company incorporated in the Cayman Islands as an exempted company. The Generation Essentials Group conducts its operations through its subsidiaries. The securities registered herein are securities of The Generation Essentials Group, not those of its operating subsidiaries. Therefore, investors in The Generation Essentials Group are not acquiring equity interest in any operating company but instead are acquiring interest in a Cayman Islands holding company. The holding company structure involves unique risks to investors. As a holding company, The Generation Essentials Group may rely on dividends from its subsidiaries for cash requirements, including any payment of dividends to its shareholders. The ability of subsidiaries of The Generation Essentials Group to pay dividends or make distributions to The Generation Essentials Group may be restricted by laws and regulations applicable to them or the debt they incur on their own behalf or the instruments governing their debt. See “Summary of the Proxy Statement/Prospectus — Corporate History and Structure of TGE.”

The Sponsor and certain holders of BSII II Class B Ordinary Shares and BSII Private Warrants (each, and together with the Sponsor, the “Sponsor Parties”) have agreed to vote the BSII Class B Ordinary Shares, and any other Blade Spade II securities acquired by such Sponsor Party in favor of the Business Combination. In order to fund working capital deficiencies or finance transaction costs in connection with a Business Combination, the Sponsor, or certain of Black Spade II’s officers and directors or their affiliates may, but are not obligated to, loan Black Spade II funds as may be required. If Black Spade II complete a business combination, Black Spade II would repay such loaned amounts. In the event that a business combination does not close, Black Spade II may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used for such repayment. Up to $2,000,000 of such working capital loans may be convertible into Private Placement Warrants of the post business combination entity at a price of $