Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 285

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 285
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 March 31, 2025, the Company determined that a Business Combination is not considered probable,
and, therefore, no stock-based compensation expense has been recognized. Stock-based compensation would be recognized at the
date a Business Combination is considered probable (i.e., upon consummation of a Business Combination) in an amount equal to the number
of Founder Shares times the grant date fair value per share (unless subsequently modified) less the amount initially received for the
purchase of the Founder Shares.

The Sponsor has agreed,
subject to limited exceptions, not to transfer, assign or sell any of the Founder Shares until the earlier to occur of (A) six months
after the completion of the initial Business Combination or earlier if, subsequent to the initial Business Combination, the closing price
of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing
at least 150 days after the initial business combination, and (B) the date following the completion of the initial
Business Combination on which the Company completes a liquidation, merger, share exchange or other similar transaction that results in
all of the shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property.

Due to Related Party

As of March 31, 2025
and December 31, 2024, the balance of due to related party was $60,000 and $41,286, respectively, mainly consisted of the unpaid
administrative service fee.

Promissory Note — Related Party

On May 21, 2024,
the Sponsor issued an unsecured promissory note to the Company (the “Promissory Note”), pursuant to which the Company may
borrow up to an aggregate principal amount of $250,000. The Promissory Note was non-interest bearing and payable on the earlier
of (i) December 31, 2024, or (ii) the consummation of the Initial Public Offering. Prior to the closing of the Initial
Public Offering, the Company withdrew $193,720 under the Promissory Note, which was fully repaid subsequent to the closing of the
Initial Public Offering, on September 5, 2024. As of March 31, 2025 and December 31, 2024, there were no outstanding borrowings
under the Promiss