Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 101

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 101
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, “FOR” the approval of the SPAC Merger Proposal and “FOR” the approval of the Adjournment Proposal, if presented to the extraordinary general meeting. The TLGY Board, after careful consideration, determined that the Business Combination is fair in the best interests of TLGY and its shareholders, and approved, among other things, the Business Combination Agreement, the Business Combination and the other agreements and transactions contemplated thereby. See the subsection entitled “ The Extraordinary General Meeting — Recommendation of the Board” for more information. The existence of financial and personal interests of one or more of TLGY’s directors may result in a conflict of interest on the part of such director(s) between what he, she or they may believe is in the best interests of TLGY and its shareholders and what he, she or they may believe is best for himself, herself or themselves in determining to recommend that shareholders vote for the proposals. In addition, the Sponsors and TLGY’s officers have interests in the Business Combination that may conflict with your interests as a shareholder. See the section of this proxy statement/prospectus entitled “ The Business Combination Proposal — Interests of Certain TLGY Persons in the Business Combination”. Background of the Business Combination TLGY’s management and its advisors surveyed the landscape of potential acquisition opportunities for acquisition targets. Following the Securities Transfer Transaction, TLGY’s new management team engaged in detailed discussions with ten (excluding SC Assets) potential targets. TLGY management ultimately decided not to pursue such alternate targets, and instead focus its efforts on SC Assets. The terms of the Business Combination Agreement are the result of negotiations between the representatives of TLGY, SC Assets and Ethena, which occurred between March 2025 and July 2025. For more information, see “ The Business Combination Proposal — Background of the Business Combination”. The TLGY Board’s Reasons for the Approval of the Business Combination Before reaching its unanimous decision on July 20, 2025, the TLGY Board consulted with its management team, legal counsel and other advisors. The TLGY Board considered a variety of factors in connection with its evaluation of the Business Combination in approving and recommending the transaction to the TLGY shareholders. In light of the complexity of those factors, the TLGY Board did not consider it practicable to, nor did it attempt to, quantify or otherwise assign relative weights to the specific factors it took into account in reaching its decision. Different individual members of the TLGY Board may have given different weight to different factors in their evaluation of the Business Combination. Further, the