Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 147

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 147
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 period difficult or impossible because of the potential differences in accounting standards used. Additionally, TLGY is and StablecoinX will initially be a “smaller reporting company” as defined in Item 10(f)(1) of Regulation S -K. Smaller reporting companies may take advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited financial statements. StablecoinX will remain a smaller reporting company until the last day of the fiscal year in which (i) the market value of the StablecoinX Class A Common Stock held by non -affiliatesexceeds $250 million as of the prior June 30, or (ii) its annual revenues exceeded $100 million during such completed fiscal year and the market value of the StablecoinX Class A Common Stock held by non -affiliatesexceeds $700 million as of the prior June 30. To the extent StablecoinX takes advantage of such reduced disclosure obligations, it may also make comparison of its financial statements with other public companies difficult or impossible. Compliance obligations under the Sarbanes-Oxley Act may make it more difficult for TLGY to effectuate the Business Combination, require substantial financial and management resources and increase the time and costs of completing a business combination. The fact that TLGY is a blank check company makes compliance with the requirements of the Sarbanes -OxleyAct particularly burdensome on TLGY as compared to other public companies. SC Assets is not a public reporting company required to comply with Section 404 of the Sarbanes -OxleyAct and StablecoinX management may not be able to effectively and timely implement controls and procedures that adequately respond to the increased regulatory compliance and reporting requirements that will be applicable to StablecoinX after the Business Combination. If TLGY is not able to implement the requirements of Section 404, including any additional requirements once TLGY is no longer an emerging growth company, in a timely manner or with adequate compliance, TLGY may not be able to assess whether its internal controls over financial reporting are effective, which may subject TLGY to adverse regulatory consequences and could harm investor confidence and the market price of StablecoinX Class A Common Stock. Additionally, once TLGY is no longer an emerging growth company, TLGY will be required to comply with the independent registered public accounting firm attestation requirement on its internal control over financial reporting. 42 Future sales, or the perception of future sales, by StablecoinX or its stockholders in the public market following the Business Combination