Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 259

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 259
---
 on the observable inputs and unobservable inputs used in order to value the assets and liabilities:

| Level 1: | Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. |
| Level 2: | Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.                                     |
| Level 3: | Unobservable inputs based on assessment of the assumptions that market participants would use in pricing the asset or liability.                                                                                                                                            |

<div align='center'>F-19

BLACK SPADE ACQUISITION II CO
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024</div>

NOTE 9 — FAIR VALUE MEASUREMENTS (cont.)

The Company did not have any assets or liabilities
that are measured at fair value on December 31, 2024.

The following table presents information about the
Company’s assets and liabilities that are measured at fair value on August 29, 2024, and indicates the fair value hierarchy
of the valuation inputs the Company utilized to determine such fair value:

|                                                                                            |     | Level |     | August 29, 
 2024       |         |
|:-------------------------------------------------------------------------------------------|:----|------:|:----|:-----------|--------:|
| Liabilities:                                                                               |     |       |     |            |         |
| Over-allotment option liability                                                            |     |     3 |     | $          | 253,969 |
| Equity:                                                                                    |     |       |     |            |         |
| Fair value of Public Warrants for Class A ordinary shares subject to redemption allocation |     |     3 |     | $          | 545,000 |

The over-allotment option was accounted for as a
liability in accordance with ASC 815-40 and was presented within liabilities on the balance sheet. The over-allotment option liability
is measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of over-allotment
option liability in the statement of operations. Upon the partial exercise of the over-allotment option by the underwriters on September 26,
2024, the Company recorded $