Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 230

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 230
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 and industry factors may materially reduce the market price of StablecoinX Class A Common Stock, regardless of StablecoinX’s operating performance. In addition, price volatility may be greater if the public float and trading volume of StablecoinX Class A Common Stock is low. As a result, you may suffer a loss on your investment. The share price of StablecoinX Class A Common Stock may be exposed to additional risks because our business will become a public company through a “de -SPAC” transaction. There has been increased focus by government agencies on such transactions, and StablecoinX expects that increased focus to continue. StablecoinX may be subject to increased scrutiny by the SEC and other government agencies on holders of StablecoinX securities as a result, which could adversely affect the price of StablecoinX Class A Common Stock. 81 A substantial part of StablecoinX’s assets following the Business Combination will be its ENA Token holdings and cash and cash equivalents from the proceeds of the Business Combination and the PIPE not invested in ENA Token. Although StablecoinX is expected to have certain other operations, StablecoinX will depend on such retained cash and cash equivalents to pay its expenses and other obligations. Upon consummation of the Business Combination, a substantial part of StablecoinX’s assets will be its ENA Token holdings and cash and cash equivalents from the proceeds of the Business Combination and the PIPE not invested in ENA Token. While StablecoinX plans to generate revenue through its infrastructure software and services, including its validator business, DVN services and staking rewards, as well as active management of its ENA Token holdings, these business strategies are subject to risks as described in this section. StablecoinX’s ability to pay taxes and operating expenses, as well as its debt service obligations in the future, if any, will be largely dependent upon the financial results and cash flows resulting from its business strategies. There can be no assurance that StablecoinX will generate sufficient cash flow from its operations, or that applicable law and contractual restrictions, including negative covenants under any debt instruments, if applicable, will permit the sale of ENA Token in order to fund working capital needs. StablecoinX may default on contractual obligations or have to borrow additional funds. In the event that StablecoinX is required to borrow additional funds, it could adversely affect StablecoinX’s liquidity and subject it to additional restrictions imposed by lenders. If StablecoinX enters into additional financing or other agreements in the future, StablecoinX cannot make assurances that these agreements