Company: TLGYF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108215
Chunk: 58

Company: TLGY ACQUISITION CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 58
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 April 16, 2024, the Company
held an extraordinary general meeting of its shareholders (the “Third Extension Meeting”), at which its shareholders approved
a further amendment to the Articles to, among other things, extend the time it had to complete an initial Business Combination, and in
connection therewith, 2,205,658 Class A ordinary shares were rendered for redemption. The Class A ordinary shares were redeemed at a
per-share price, of approximately $11.33 per share.

On April 15, 2025, the Company
held an extraordinary general meeting of its shareholders (the “Fourth Extension Meeting”) at which its shareholders approved
certain amendments to among other things, extend the time it had to complete an initial Business Combination, and in connection therewith,
3,227,320 Class A ordinary shares were rendered for redemption. The Class A ordinary shares were redeemed at a per-share price, of approximately
$12.12 per share.

As
of September 30, 2025, we had cash and investments held in the trust account of $6,210,376. We intend to use substantially all
of the funds held in the trust account, including any amounts representing interest earned on the trust account (excluding deferred underwriting
commissions), to complete our initial business combination. We may withdraw interest to pay our taxes, if any. To the extent that our
equity or debt is used, in whole or in part, as consideration to complete our initial business combination, the remaining proceeds held
in the trust account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions
and pursue our growth strategies.

As
of September 30, 2025, we had cash held outside the trust account of $347,921. We intend to use these funds to primarily identify
and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants
or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements
of prospective target businesses, and structure, negotiate and complete a business combination.

As
of September 30, 2025, the Company had cash of $347,921 and a working capital deficit of $5,750,659.

We have determined that if
we are unable to raise additional funds to alleviate liquidity needs or complete an initial business combination by November 16, 2025
(or such later date as may be extended in accordance