Company: TGE
Filing Date: 2025-04-11
Form Type: F-4
Source: 0001213900-25-031177
Chunk: 424

Company: Generation Essentials Group
Filing Date: 2025-04-11
Form: F-4
Chunk 424
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,720 under the Promissory Note, which was fully repaid subsequent to the closing of Black Spade II’s IPO, on September 5, 2024. As of December 31, 2024, there was no outstanding borrowings under the Promissory Note and the note is no longer available. In addition, in order to finance transaction costs in connection with a business combination, the Sponsor or an affiliate of the Sponsor, or certain of Black Spade II’s officers and directors may, but are not obligated to, loan Black Spade II funds as may be required. Such working capital loans would be evidenced by promissory notes. The notes may be repaid upon completion of a business combination, without interest, or, at the lender’s discretion, up to $2,000,000 of the notes may be converted upon completion of a business combination into warrants at a price of $0.50 per warrant. Such warrants would be identical to the private placement warrants. In the event that a business combination does not close, Black Spade II may use a portion of proceeds held outside the trust account to repay the working capital loans but no proceeds held in the trust account would be used to repay the working capital loans. As 273 of the date of this proxy statement/prospectus, there were no amounts outstanding under the working capital loans. Any of the foregoing payments to the Sponsor, repayments of loans from the Sponsor or repayments of working capital loans prior to Black Spade II’s initial business combination will be made using funds held outside the trust account. After Black Spade II’s initial business combination, members of its management team who remain with Black Spade II may be paid consulting, management or other fees from the combined company with any and all amounts being fully disclosed to Black Spade II Shareholders, to the extent then known, in the proxy solicitation or tender offer materials, as applicable, furnished to Black Spade II Shareholders. It is unlikely the amount of such compensation will be known at the time of distribution of such tender offer materials or at the time of a general meeting held to consider Black Spade II’s initial business combination, as applicable, as it will be up to the directors of the post -combinationbusiness to determine executive and director compensation. Black Spade II have entered into a registration rights agreement with respect to the Founder Shares and Private Placement Warrants. On January 27, 2024, concurrently with the execution of the Business Combination Agreement, Black Spade II entered into