Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 1244

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 1244
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 investment in the Company by purchasing Company Class A Stock in the aggregate amount equal to the ENA PIPE Gross Proceeds prior to the Closing Date (the “ ENA PIPE”), and (b) the Cash PIPE Investors have agreed to make a private investment in the Company by purchasing Company Class A Stock in the aggregate amount equal to the Cash PIPE Gross Proceeds prior to the Closing Date (the “ Cash PIPE” and, together with the ENA PIPE, the “ PIPE Investments”), in each case, pursuant to the PIPE Subscription Agreements; (h)On the date of the Agreement, Ethena OpCo and the Company, solely in its capacity as [administrative agent] for the Cash PIPE Investors, have entered into the Token Purchase Agreement, pursuant to which Ethena OpCo has agreed to sell to the Company, in its capacity as [administrative agent] for the Cash PIPE Investors, a number of discounted locked ENA Tokens in an amount equal to the Locked ENA Purchase Amount; (i)At the Effective Time, immediately following the SPAC Merger and the PIPE Investment, each issued and outstanding share of Company Class A Stock (excluding Treasury Shares) shall be converted automatically into one share of Pubco Class A Stock, following which, all such shares of Company Class A Stock shall cease to be outstanding and shall automatically be canceled and shall cease to exist. (j)At the Effective Time, immediately following the SPAC Merger and the ENA Contribution, each issued and outstanding share of Company Class B Stock (excluding Treasury Shares) shall be converted automatically into one share of Pubco Class A Stock and one share of Pubco Class B Stock, following which, all such shares of Company Class B Stock shall cease to be outstanding and shall automatically be canceled and shall cease to exist. The Pubco Public Warrants and Pubco Class A Stock issued in the Transactions in excess of the shares issued for the Total Gross Proceeds and to SPAC Public Shareholders for the cash in the Trust Account include 700,000shares of Pubco Class A Stock issued to the Company, 1,756,250 Retained Founder Shares, and 11,500,000 Pubco Public Warrants issued for the SPAC Public Warrants with a strike price of $11.50 per share (the “ Dilutive Shares” together with the Permitted Expense Amount, the “ Consideration”). Annex M-2 Scalar’s Procedures and Processes: In arriving at our Opinion, among other things, we have: (a)review