Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 301

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 301
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 Fairness Opinion, Scalar made numerous assumptions with respect to industry performance, general business, market and economic conditions and other matters, many of which are beyond the control of any party involved in the Business Combination. Scalar prepared the Fairness Opinion effective as of July 20, 2025. The Fairness Opinion is necessarily based upon market, economic, financial and other conditions as they existed and could be evaluated as of the date of the Fairness Opinion, and Scalar disclaimed any undertaking or obligation, and has no obligation, to update the Fairness Opinion or advise any person of any change in any fact or matter affecting the Fairness Opinion which may come or be brought to the attention of Scalar after the date of the Fairness Opinion. Scalar did not consider any potential legislative or regulatory changes currently being considered or recently enacted by the United States or any foreign government, or any domestic or foreign regulatory body, or any changes in accounting methods or generally accepted accounting principles that may be adopted by the SEC, the FASB, or any similar foreign regulatory body or board. In arriving at its opinion, Scalar did not perform any appraisals or valuations of any specific assets or liabilities (fixed, contingent or other) of SC Assets or TLGY, and was not furnished or provided with any such appraisals or valuations, nor did Scalar evaluate the solvency of SC Assets or TLGY under any state or federal law relating to bankruptcy, insolvency or similar matters. The analyses performed by Scalar in connection with its opinion were going concern analyses, assuming the Transactions were consummated. Without limited the generality of the foregoing, Scalar was not requested to, and did not, (i) initiate any discussions with, or solicit any indications of interest from, third parties with respect to the Business Combination, the assets, businesses or operations of StablecoinX or any alternatives to the Business Combination, (ii) negotiate the terms of the Business Combination, and therefore, Scalar assumed that such terms are the most beneficial terms, from TLGY’s perspective, that could, under the circumstances, be negotiated among the parties to the Business Combination Agreement and the Business Combination, or (iii) advise the TLGY Board or any other party with respect to alternatives to the Business Combination. 129 Scalar did not express any opinion as to the market price or value of the TLGY Class A Ordinary Shares, the StablecoinX Class A Common Shares, or other equity securities of SC Assets or StablecoinX, as applicable, either before or after the announcement or