Company: TLGYF
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001410578-25-000276
Chunk: 19

Company: TLGY ACQUISITION CORP
Filing Date: 2025-03-05
Form: 10-K
Item: Item 1B
Chunk 19
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Item 1.Business.

Overview

We are a blank check company incorporated in May 2021 as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, which we refer to throughout this Annual Report as our initial business combination. We have not entered into a business combination agreement with any specific business combination target. We have generated no operating revenues to date, and we may not generate operating revenues even after we consummate our initial business combination.

While we may pursue an acquisition opportunity in any business, industry, sector, or geographical location, we intend to focus on targets in the technology enabled business-to-consumer (“B2C”) sector, where we believe our management team’s background and expertise will provide us with a competitive advantage, or companies that provide technology enabled services, including e-commerce, fintech, digital asset and block chain verticals. We believe the innovations in these sectors that have emerged in recent years, partly as a response to the broad social, economic, and behavioral changes arising from the COVID-19 global pandemic, provide attractive opportunities to target high growth companies with technology and business model innovation. We do not expect to undertake an initial business combination with any entity with principal business operations in China (including Hong Kong and Macau).

We believe one of our key differentiators is our team’s deep roots in private equity and transformational operations that reflect the career of our founder and Chairman, Jin-Goon Kim, as both a blue-chip private equity partner and a public and private company CEO. Our founder and directors have had long and successful tenures as senior leaders with top investment platforms in Asia and globally, including TPG (a leading global and Asian private equity firm). We believe that his skills will help us in sourcing and diligence of potential target businesses, and in value creation after our initial business combination.

Mr. Kim has a long track record of selecting and working with industry-leading companies in attractive macro segments, often at critical times in the industry’s evolution, and enabling those companies to grow through disruptive technology and business model transformation. We expect that such hands-on experience will be valuable in assessing the potential of our business combination targets and enable us to strengthen their competitive advantages post business combination. We believe that members of our management team and directors have a unique network of business contacts and relationships across a wide range of industries in which they have worked, advised, or invested. We believe our management team and directors, with a