Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 717

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 717
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 equal to (A) the ENA Contribution Amount, divided by (B)(x) $10.00, multiplied by (y) a fraction, the numerator of which is (1) the ENA Fair Market Value at Signing (as defined below) and the denominator of which is (2) the ENA Fair Market Value at Closing (as defined below), which shares shall, upon consummation of the Company Merger, convert automatically, on a one-for-one basis, into shares of Pubco Class A Common Stock (the “ Converted Class A Contribution Shares ”) and shares of Pubco Class B Common Stock (together with the Converted Class A Contribution Shares, the “ Converted Contribution Shares ”). Notwithstanding anything to the contrary herein, no fraction of a Contribution Share will be issued to Ethena. If Ethena would otherwise be entitled to a fraction of a Contribution Share, then the number of Contribution Shares to be issued to Ethena will be rounded down to the nearest whole Contribution Share. (c) Certain Definitions . Capitalized terms used and not otherwise defined herein shall have the respective meanings ascribed to such terms in the BCA. For purposes of this Section 1 , the following terms shall have the following meanings: (i) “ 30-day VWAP of ENA ” shall mean the volume-weighted average price of all ENA Token/USDT spot trades executed on Binance and Bybit during the 30 consecutive calendar days ending on the relevant measurement date (based on UTC), calculated by aggregating trade data from both exchanges (or if such volume-weighted average price is unavailable, the market price of one ENA Token on such day determined, using a volume-weighted average method, by an independent financial advisor retained for such purpose by Pubco). (ii) “ Discount ” shall mean 30%. (iii) “ ENA Contribution Price ” shall mean (x) the ENA Fair Market Value at Signing, multiplied by (y) 1 minus the Discount. (iv) “ ENA Fair Market Value at Closing ” shall mean the 30-day VWAP of ENA Tokens ending two (2) days prior to the Closing Date. (v) “ ENA Fair Market Value at Signing ” shall mean the 30-day VWAP of ENA ending two (2) days prior to the date of this Contribution Agreement, which is $0.3008. (vi) “ UTC ” means Coordinated Universal Time. Section 2. Closing. (a)