Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 76

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 76
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ade II’s directors and officers and certain of the Sponsor’s affiliates and employees. (5)After giving effect to the Recapitalization. (6)Upon completion of the Business Combination, the AMTD Entities will hold 23,171,033 TGE Class A Ordinary Shares, 19,285,911 TGE Class B Ordinary Shares and 6,343,056 TGE Preferred Shares. Under the “no redemptions” scenario, the 50% redemption scenario and the maximum redemption scenario, on a fully diluted basis, the AMTD Entities would hold 34.1%, 28.4% and 9.3% of TGE ordinary shares, respectively. The actual ownership of TGE Class A Ordinary Shares, TGE Class B Ordinary Shares and TGE Preferred Shares as a result of the Business Combination will be within the parameters described by the three scenarios above. However, there can be no assurance regarding which scenario will be closest to the actual results.

36

Dilution Dilution per share to the original investors in Black Spade II is determined by subtracting pro forma as adjusted net tangible book value per share after the Business Combination from the initial public offering price per share paid by original investors in Black Spade II as set forth as follows under the three redemption scenarios:

|                                                                                                                                                                                    |     | Assuming No       
 Redemptions(1)(2) |     | Assuming          
 50% of the        
 Maximum           
 Redemptions(1)(2) |     | Assuming          
 Maximum           
 Redemptions(1)(2) |
|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:------------------|:----|:------------------|:----|:------------------|
| Initial public offering price per BSII Class A Ordinary Share                                                                                                                      |     | $                 |     | $                 |     | $                 |
| Pro forma net tangible book value per share as of December 31, 2024, as adjusted(1)                                                                                                |     |                   |     |                   |     |                   |
| Difference between initial public offering price per BSII Class A Ordinary Share and pro forma net tangible book value per share, as adjusted                                      |     | $                 |     | $                 |     | $                 |
| Net tangible book value at or above which the potential dilution results in pro forma net tangible book value per share, as adjusted being at least $10.00 per share (in millions) |     |                   |     |                   |     |                   |

____________ Notes: (