Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 280

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 280
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 will be redeemable by us and exercisable by the holders on the same basis as the Public Warrants included in the units being sold in our Initial Public Offering. If we do not complete our initial business combination within the Completion Window, the Private Placement Warrants will expire worthless. Prior to the consummation of our Initial Public Offering, on May 21, 2024, the Sponsor purchased 4,312,500 of the BSII Class B Ordinary Shares (the “Founder Shares”) in exchange for a capital contribution of $25,000 that was paid by the Sponsor for deferred offering costs. The Founder Shares included an aggregate of up to 562,500shares subject to forfeiture to the extent that the underwriters’ over -allotmentis not exercised in full or in part, so that the number of Founder Shares would equal, on an as -convertedbasis, approximately 20% of our issued and outstanding ordinary shares after our Initial Public Offering. On September 26, 2024, the underwriters partially exercised their over -allotmentoption and purchased an additional 300,000 Units. Due to the underwriters’ partial exercise and decision to forfeit the remainder of the over -allotmentoption, 487,500 BSII Class B Ordinary Shares were forfeited and the Sponsor subsequently holds 3,825,000 Founder Shares. In aggregate, the Sponsor currently holds 3,266,217 Founder Shares, and the Initial Shareholders collectively hold 3,825,000 Founder Shares. Offering Proceeds Held in Trust Upon the closing of our Initial Public Offering and the partial exercise of the over -allotmentoption, $153,000,000 was placed in the Trust Account with Continental Stock Transfer & Trust Company acting as trustee. Except for the withdrawal of interest to pay taxes, if any, the Black Spade II Articles provides that none of the funds held in trust will be released from the Trust Account until the earliest of (i) the completion of our initial business combination; (ii) the redemption of our Public Shares if we are unable to complete our initial business combination within the Completion Window, subject to applicable law, or (iii) the redemption of any Public Shares properly submitted in connection with a shareholder vote to amend the Black Spade II Articles (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of the BSII Public Shares if we have not consummated an initial business combination within the Completion