Company: TLGYF
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001410578-25-000276
Chunk: 8

Company: TLGY ACQUISITION CORP
Filing Date: 2025-03-05
Form: 10-K
Item: Item 13
Chunk 8
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Item 13. Certain Relationships and Related Transactions, and Director Independence.

On June 17, 2021, our former sponsor paid $25,000, or approximately $0.0043 per share, to cover certain of our offering and formation costs in exchange for 5,750,000 founder shares. On August 7, 2021, our sponsor surrendered an aggregate of 718,750 founder shares for no consideration, thereby reducing the aggregate number of founder shares outstanding to 5,031,250, resulting in a purchase price paid for the founder shares of approximately $0.005 per share. On December 3, 2021, the former sponsor agreed to transfer 30,000 founder shares to each of our initial independent directors, Dr. Shrijay (Jay) Vijayan, Donghyun Han and Hyunchan Cho, at an aggregate purchase price of $150, or approximately $0.005 per share. The current sponsors also agreed to transfer 20,000 founder shares to each of the independent directors appointed after June 19, 2024, Young Cho, Enrique Klix, Christina Favilla and Niraj Javeri.

Our former sponsor purchased an aggregate of 10,659,500 private placement warrants, each exercisable to purchase one Class A ordinary share at $11.50 per share, at a price of $1.00 per warrant, or $10,659,500 in the aggregate, in a private placement simultaneously with the closing of our IPO. On December 8, 2021, our sponsor purchased an additional 600,000 Additional Private Placement Warrants, each exercisable to purchase one Class A ordinary share at $11.50 per share, at $1.00 per Additional Private Placement Warrant, or $600,000 in the aggregate. The private placement warrants are identical to the warrants sold in our IPO except that the private placement warrants, so long as they are held by our sponsor or its permitted transferees, (i) will not be redeemable by us, (ii) may not (including the Class A ordinary shares issuable upon exercise of these warrants), subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of our initial business combination, (iii) may be exercised by the holders on a cashless basis and (iv) will be entitled to registration rights. The private placement warrants (including the Class A ordinary shares issuable upon exercise thereof) may not, subject to