Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 298

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 298
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 not a legal, accounting, regulatory, or tax expert and its opinion does not address any legal, regulatory, taxation, or accounting matters, as to which Scalar understood that the TLGY obtained such advice as it deemed necessary from qualified professionals, and Scalar assumed the accuracy and veracity of all assessments made by such advisors to the Company or the TLGY with respect to such matters. Scalar’s procedures, investigations and financial analysis with respect to the preparation of its Fairness Opinion included, but were not limited to, the items summarized below: •reviewed a draft, dated July18, 2025, of the Business Combination Agreement; •reviewed a draft of the Sponsor Support Agreement; •reviewed a draft of the PIPE Subscription Agreement; •reviewed a draft of the Collaboration Agreement; •reviewed a draft of the Token Purchase Agreement; •reviewed certain publicly available business and financial information relating to TLGY and Ethena; •reviewed certain historical financial information and other data relating to SC Assets that were provided by the management of TLGY, approved for Scalar’s use by TLGY and not publicly available; •reviewed certain internal estimates and other data relating to the business and financial prospects of SC Assets that were provided by the management of TLGY, approved for Scalar’s use by the SPAC and not publicly available; 127 •conducted discussions with members of the senior management of SC Assets and TLGY concerning the business, operations, and financial prospects of SC Assets and the Transactions; •reviewed current and historical market prices of the TLGY Class A Ordinary Shares and ENA tokens; •reviewed certain financial and market data of SC Assets that were provided by the management of TLGY and approved for Scalar’s use by TLGY and which financial and market data of the Company is not publicly available and compared that data with publicly available data for certain other companies similar to SC Assets; •reviewed certain pro forma effects relating to the Transactions, including estimated transaction costs and the effects of anticipated financings, that were provided by the management of TLGY; and •conducted such other financial studies, analyses and investigations, and considered such other information, as deemed necessary or appropriate. In performing its analyses and rendering the Fairness Opinion with respect to the Business Combination, Scalar, with TLGY’s consent: •relied upon the accuracy, completeness and fair presentation of all information, data, advice, opinions and representations obtained from public sources or provided to it from private sources, including TLGY, SC Assets and StablecoinX