Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 275

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 275
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 to $156,875,931 and
$155,345,149, respectively. For the three months ended March 31, 2025, the Company withdrew $117,248 of interest earned on the cash
held in Trust Account, for working capital purposes.

Offering Costs

The Company complies
with the requirements of ASC 340-10-S99 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A — “Expenses
of Offering.” Offering costs consist principally of professional and registration fees that are related to the Initial Public Offering.
Financial Accounting Standards Board (“FASB”) ASC 470-20, “Debt with Conversion and Other Options,” addresses
the allocation of proceeds from the issuance of convertible debt into its equity and debt components. The Company applies this guidance
to allocate Initial Public Offering proceeds from the Units between Class A ordinary shares and warrants, using the residual method by
allocating Initial Public Offering proceeds first to assigned value of the warrants and then to Class A ordinary shares. Offering costs
allocated to Class A ordinary shares were charged to temporary equity and offering costs allocated to the Public and Private Placement
Warrants were charged to shareholders’ deficit as Public and Private Placement Warrants after management’s evaluation were
accounted for under equity treatment.

Income Taxes

The Company follows the
asset and liability method of accounting for income taxes under ASC 740, “Income Taxes.” Deferred tax assets and liabilities
are recognized for the estimated future tax consequences attributable to differences between the unaudited condensed financial statements
carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured
using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be
recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period
that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected
to be realized.

ASC 740 prescribes a
recognition threshold and a measurement attribute for the financial statements’ recognition and measurement of tax positions taken
or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained
upon examination by taxing authorities. The Company’s management determined that the Cayman Islands is the Company’s only
major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense