Company: TLGYF
Filing Date: 2025-07-21
Form Type: 425
Source: 0001213900-25-065924
Chunk: 1

Company: TLGY ACQUISITION CORP
Filing Date: 2025-07-21
Form: 425
Chunk 1
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 transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐

| Item 1.01. | Entry into a Material Definitive Agreement. |

Business Combination Agreement

On July 21, 2025, TLGY Acquisition
Corp., a Cayman Islands exempted company (“TLGY”), StableCoinX Assets Inc., a Delaware corporation (“SC Assets”),
StableCoinX Inc., a Delaware corporation, (“Pubco”), StableCoinX SPAC Merger Sub LLC, a Delaware limited liability company
and a wholly-owned subsidiary of Pubco (“SPAC Merger Sub”), and StableCoinX Company Merger Sub, Inc., a Delaware corporation
and a wholly-owned subsidiary of Pubco (“Company Merger Sub”), entered into a business combination agreement (the “Business
Combination Agreement”). SC Assets was founded by Young Cho, the Chief Executive Officer and Executive Director of TLGY, and Edward
Chen, the managing member of the current sponsors of TLGY. Capitalized terms used in this Current Report on Form 8-K (this “Form
8-K”) but not otherwise defined herein have the meanings given to them in the Business Combination Agreement.

Pursuant to the Business
Combination Agreement, and subject to the terms and conditions set forth therein, upon the consummation of the transactions contemplated
thereby, (a) TLGY will, subject to the terms of the Business Combination Agreement, merge with and into SPAC Merger Sub, with SPAC Merger
Sub continuing as the surviving company (the “SPAC Merger”), as a result of which the holders of Class A ordinary shares,
par value $0.0001 per share, of TLGY (“TLGY Class A Ordinary Shares”), will receive one share of Class A common stock, par
value $0.0001 per share, of Pubco (“Pubco Class A Common Stock”) for each TLGY Class A Ordinary Share held by such shareholder,
and (b) immediately following the SPAC Merger, Company Merger Sub will merge with and into SC Assets, with SC Assets continuing as the
surviving company (the “Company Merger”, and together with the SPAC Merger, the “Mergers”), as a result of which
the holders of shares of Class A common stock, par value $0.0001 per share, of SC Assets (the “SC Assets Class A Common Stock”