Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 386

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 386
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 Assets Class A Common Stock will be converted to one share of StablecoinX Class A Common Stock. The amount represents the estimated fair value of the digital assets to be contributed by the PIPE investors. The Company is unable to predict the fair value of the ENA tokens at closing and has therefore valued the tokens as of December 22, 2025 for purposes of these pro forma financial statements. Refer to Note 4(C)(ii), Digital Assets, for the corresponding pro forma adjusting entries. (vi)Immediately prior to the closing of the Business Combination, Ethena will contribute ENA tokens to SC Assets for a preliminary estimate of 5,080,329 shares SC Assets Class B Common Shares. At the closing of the Business Combination, each share of SC Assets Class A Common Stock will be converted to one share of StablecoinX Class A Common Stock and one share of StablecoinX Class B Common Stock. The amount represents the estimated fair value of the digital assets to be contributed by Ethena. The Company is unable to predict the fair value of the ENA tokens at closing and has therefore valued the tokens as of December 22, 2025 for purposes of these pro forma financial statements. Refer to Note 4(C)(iii), Digital Assets, for the corresponding pro forma adjusting entries. (vii) Represents the reclassification of $6.2 million of TLGY’s Class A Ordinary Shares from temporary equity (mezzanine) to permanent equity under the assumed no redemptions scenario, the reclassification of $3.1 million of TLGY’s Class A Ordinary Shares from temporary equity (mezzanine) to permanent equity under the assumed 50% redemptions scenario, and the reclassification of no ($ —) amounts of TLGY’s Class A Ordinary Shares from temporary equity (mezzanine) to permanent equity of StablecoinX under the assumed no redemptions scenario, at the Closing of the Business Combination. See note 4(G) TLGY’s Class A Common Stock subject to redemption,for the corresponding pro forma adjusting entries. (viii) Represents adjustment to reclassify the par value associated with TLGY’s Class A and Class B Common Stock to the par value associated with StablecoinX Class A and Class B Common Stock. (ix)Reflects the $33.1 million elimination of TLGY’s historical accumulated deficit as part of the reverse recapitalization at the Closing of the Business Combination. Refer to Note 4(M), Accumulated deficit, for the corresponding pro forma