Company: TLGYF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108215
Chunk: 37

Company: TLGY ACQUISITION CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 37
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, share exchange,
asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. We intend to effectuate
our initial business combination using cash from the proceeds of our IPO and the private placement of the private placement warrants,
the proceeds of the sale of our shares in connection with our initial business combination (pursuant to forward purchase agreements or
backstop agreements we may enter into following the consummation of our IPO or otherwise), shares issued to the owners of the target,
debt issued to bank or other lenders or the owners of the target, or a combination of the foregoing. We expect to incur significant costs
in the pursuit of our initial business combination. We cannot assure you that our plans to raise capital or to complete our initial business
combination will be successful.

Business Combination with StablecoinX

On July 21, 2025, the Company
entered into a business combination agreement (the “Business Combination Agreement”) with StablecoinX Assets Inc. (“SC
Assets”), StablecoinX Inc. (“Pubco”), StableCoinX SPAC Merger Sub LLC, a wholly-owned subsidiary of Pubco (“SPAC
Merger Sub”), and StableCoinX Company Merger Sub, Inc., a wholly-owned subsidiary of Pubco (“Company Merger Sub”),
pursuant to which and subject to the terms and conditions set forth therein, upon the consummation of the transactions contemplated thereby,
(a) the Company will, subject to the terms of the Business Combination Agreement, merge with and into SPAC Merger Sub, with SPAC Merger
Sub continuing as the surviving company (the “SPAC Merger”), as a result of which the holders of Class A ordinary shares,
will receive one share of Class A common stock, par value $0.0001 per share, of Pubco (“Pubco Class A Common Stock”) for
each Class A ordinary share held by such shareholder, and (b) immediately following the SPAC Merger, Company Merger Sub will merge with
and into SC Assets, with SC Assets continuing as the surviving company (the “Company Merger”, and together with the SPAC
Merger, the “Mergers”), as a result of which the holders of shares of Class A common stock, par value $0.0001 per share,
of SC Assets (the “SC Assets Class A Common Stock”) will receive one share of Pubco Class A Common Stock for each share of
SC Assets Class A Common Stock held by