Company: TLGYF
Filing Date: 2025-03-26
Form Type: PRE 14A
Source: 0001104659-25-028287
Chunk: 33

Company: TLGY ACQUISITION CORP
Filing Date: 2025-03-26
Form: PRE 14A
Chunk 33
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 an acquisition or investment transaction depends on - among other factors - the nature and structure of the transaction, including the level of beneficial ownership interest and the nature of any information or governance rights involved. For example, investments that result in “control” of a U.S. business by a foreign person always are subject to CFIUS jurisdiction. CFIUS’s expanded jurisdiction under the Foreign Investment Risk Review Modernization Act of 2018 and implementing regulations that became effective on February 13, 2020 further includes investments that do not result in control of a U.S. business by a foreign person but afford certain foreign investors certain information or governance rights in a U.S. business that has a nexus to “critical technologies,” “critical infrastructure” and/ or “sensitive personal data.”

Our current Sponsors are limited partnerships incorporated in the State of Delaware. Our current Sponsors are “controlled” for CFIUS purposes by Edward Tsun-Wei Chen, who is the Managing Partner of Carnegie Park Capital LLC (“CPC”), which is the manager of the current Sponsors. Mr. Chen is a U.S. person. In addition, Jin-Goon Kim, our Chairman, is a U.S. person and the sole manager of TLGY Holdings LLC, a Cayman Islands limited liability company, which is the manager of our former sponsor. TLGY Holdings LLC is held by a Cayman Islands limited liability company, which is held by a Hong Kong limited liability company whose ultimate beneficiary and controlling shareholder is a non-U.S. person. Additionally, non-voting preferred interests in the former sponsor have been issued to certain shareholders, some of whom are non-U.S. persons.

While we do not believe that our current Sponsors or former sponsor are “foreign persons” as defined in the CFIUS regulations, it is possible that non-U.S. persons could be involved in our initial business combination (e.g., as existing shareholders of a target company or as PIPE investors), which may increase the risk that our initial business combination becomes subject to regulatory review, including review by CFIUS. As such, an initial business combination with a U.S. business or foreign business with U.S. subsidiaries that we may wish to pursue may be subject to CFIUS review.

If a particular proposed initial business combination with a U.S. business falls within CFIUS’s jurisdiction, we may determine that we are required to make a mandatory filing or that we will submit to CFIUS review on a voluntary basis, or to proceed with the transaction without submitting