Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 443

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 443
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 or certain of its officers and directors may, but are not obligated to, loa TLGY funds as may be required. If TLGY completes a Business Combination, TLGY will repay such loaned amounts. In the event that the Business Combination does not close, no proceeds from the Trust Account would be used to repay such time extension funding loaned amounts. If TLGY does not complete a Business Combination, TLGY will not repay such time extension funding loans. Up to $3,000,000 of loans made to extend the time period for consummating an initial business combination may be convertible into private placement warrants of the post -businesscombination entity at a price of $1.00 per warrant at the option of the lender (the “ Extension Loans”). Such warrants are identical to the Private Placement Warrants. While TLGY obtained Extension Loans from Verde prior to the termination of the Verde Business Combination Agreement, it does not expect to seek loans from parties other than the Sponsors or an affiliate of the Sponsors prior to the closing of an initial Business Combination as TLGY does not believe such third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in the Trust Account. Prior to the Verde Termination, Verde deposited an aggregate of $475,000 into the Trust Account as Extension Loans pursuant to the Verde Business Combination Agreement, whereunder Verde agreed to finance the extension of TLGY’s Termination Date not exceeding $100,000 per month (the “ Verde Extension Loans”). The Verde Extension Loans are evidenced by promissory notes. Under the Verde Extension Loans, Verde had the right to elect to convert all (but not less than all) of the principal balance of the promissory notes, upon consummation of an initial business combination by TLGY with Verde and prior to TLGY’s first payment of all or any portion of the principal balance of the promissory note in cash, at Verde’s option. As a result of the Verde Termination, the conversion option under the Verde Extension Loans were terminated. On May 4, 2024, Verde entered into a mutual release agreement with TLGY, Verde Transactions Sub and the Former Sponsor, pursuant to which, a mutual release, waiver and discharge was agreed in respect of all claims and obligations arising out of or relating to the Verde Termination, the Verde Business Combination Agreement and all ancillary agreements and that all payments made by Verde for extending the period of time to consummate a business combination by TLGY shall not