Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 213

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 213
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 digital asset businesses, including those relating to securities, commodities, money transmission, and staking activities, depends heavily on the establishment and maintenance of robust legal, compliance, audit, and reporting systems, as well as our ability to attract and retain qualified compliance and risk management personnel. Although we expect to devote significant resources to developing policies and procedures to identify, monitor, and manage our risks, there can be no assurance that these policies and procedures will always be effective or sufficient. Our risk management systems must address unique risks associated with operating validator nodes, maintaining our digital asset treasury and managing our ENA Tokens as staking collateral. These include risks of slashing penalties, validator downtime, cybersecurity incidents, private key compromise, and smart contract vulnerabilities. Failures in monitoring, configuration, or system performance could result in loss of ENA Tokens or reduced staking rewards. Our digital asset treasury strategy also exposes us to market, liquidity, and counterparty risks, which may be exacerbated during periods of market stress and may not be adequately mitigated by our current controls. Like many digital asset businesses, our risk management policies and procedures will rely on a combination of technical safeguards and human supervision that are subject to error, failure, or circumvention. Some of our methods may be discretionary and based on internally developed models, observed historical market behavior, or standard industry practices, which may not adequately anticipate or prevent losses, particularly in extreme or unprecedented market conditions. Our testing and quality control practices may also fail to detect deficiencies before they result in material harm. In addition, we may adjust our risk management policies and procedures to allow for an increased risk tolerance in pursuit of yield or growth opportunities. Such adjustments could expose us to the risk of greater losses, which could materially adversely affect our business, financial condition, and results of operations. Risks Related to Being a Public Company The market price of StablecoinX Class A Common Stock may be volatile and decline materially as a result of volatility in ENA Token or the digital asset markets generally, or for other reasons. You should be aware that you may lose some or all of your investment. The trading price of StablecoinX Class A Common Stock following the completion of the Business Combination is likely to be volatile. The stock market has recently experienced and in the future may experience extreme volatility. 77 This volatility has often been unrelated or disproportionate to the operating performance of particular companies. You may not be able to resell your shares of StablecoinX Class A Common Stock at an attractive price due to a number of factors such as the following: •St