Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 157

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 157
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 Business Combination, fluctuations in the price of StablecoinX’s securities could contribute to the loss of all or part of your investment. Prior to the Business Combination, there has not been a public market for the stock of StablecoinX. Accordingly, the valuation ascribed to StablecoinX in the Business Combination may not be indicative of the price that will prevail in the trading market following the Business Combination. The trading price of the StablecoinX securities following the Business Combination could be volatile and subject to wide fluctuations in response to various factors, some of which are beyond StablecoinX’s control. Any of the factors listed below could have a material adverse effect on StablecoinX’s securities and the StablecoinX securities may trade at prices significantly below the price you paid for them. In such circumstances, the trading price of StablecoinX’s securities may not recover and may experience a further decline. Factors affecting the trading price of StablecoinX’s securities may include: •actual or anticipated fluctuations in the price of ENA Token; •negative changes in the reputation or popularity of Ethena and/or the Ethena ecosystem, including as a result of competition; •actual or anticipated fluctuations in TLGY’s or Ethena’s financial results or the financial results of companies perceived to be similar to TLGY or Ethena; •changes in the market’s expectations about StablecoinX’s operating results; •success of StablecoinX’s or Ethena’s competitors; •operating results failing to meet the expectations of securities analysts or investors in a particular period; 47 •changes in financial estimates and recommendations by securities analysts concerning StablecoinX or ENA Token or the industry in which StablecoinX or Ethena operates in general; •operating and stock price performance of other companies that investors deem comparable to StablecoinX; •investor perceptions of the investment opportunities associated with StablecoinX Class A Common Stock relative to other investment alternatives; •the public’s response to press releases or other public announcements by StablecoinX or third parties, including Ethena; •changes in laws and regulations affecting StablecoinX’s or Ethena’s business; •commencement of, or involvement in, litigation involving StablecoinX or Ethena or their respective affiliates; •guidance, if any, that StablecoinX provides to the public, any changes in this guidance or StablecoinX’s failure to meet this guidance; •changes in StablecoinX’s capital structure, such as future accumulation of ENA Token or other digital