Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 592

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 592
---
:-------------------------------------------------------|:----|:--------------|--------:|
| Balance, December 31, 2023                             |     | $             | 188,472 |
| Additions                                              |     |               |       — |
| Change in fair value of derivative warrant liabilities |     |               |  37,844 |
| Balance, December 31, 2024                             |     | $             | 226,316 |

The key inputs into the Monte Carlo simulation model and the modified Black -Scholesmodel to value the derivative warrant liabilities were as follows:

|                                          |     |   | December 31, 
         2024 |   |     |   | December 31, 
         2023 |   |
|:-----------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Share price                              |     | $ |        11.64 |   |     | $ |        11.08 |   |
| Exercise price                           |     | $ |        11.50 |   |     | $ |        11.50 |   |
| Risk-free interest rate                  |     |   |         4.19 | % |     |   |         4.83 | % |
| Expected life of warrants                |     |   |   1.32 years |   |     |   |   5.48 years |   |
| Expected volatility of underlying shares |     |   | de minimis % |   |     |   | de minimis % |   |
| Dividend yield                           |     |   |         0.00 | % |     |   |         0.00 | % |
| Probability of business combination      |     |   |        10.00 | % |     |   |        50.00 | % |

As of December 31, 2024 and 2023, the derivative warrant liability was $457,466 and $352,772, respectively. In addition, for the year ended December 31, 2024 and 2023, respectively, the Company recorded a loss of $104,694, and a gain of $99,215 on the change in fair value of the derivative warrant liabilities on the statements of operations.

F-54

TLGY ACQUISITION CORPORATION
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2024