Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 282

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 282
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 directors and/or their affiliates will not make purchases of shares if the purchases would violate Section 9(a)(2) or Rule 10b -5of the Exchange Act. Any such purchases will be reported pursuant to Section 13 and Section 16 of the Exchange Act to the extent such purchasers are subject to such reporting requirements. Redemption Rights for Public Shareholders We will provide our Public Shareholders with the opportunity to redeem all or a portion of their BSII Class A Ordinary Shares upon the completion of the Proposed Transactions at a per -shareprice, payable in cash, equal to the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Proposed Transactions including interest earned on the funds held in the Trust Account (which interest shall be net of funds withdrawn for any permitted withdrawals), divided by the number of then outstanding Public Shares, subject to the limitations described herein. For illustrative purposes, based on funds in the Trust Account of approximately $ million as of , 2025, the estimated redemption price per share would have been approximately $ . The per -shareamount we will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting commissions we would otherwise pay to the underwriters, which were subsequently waived. The Sponsor and our executive officers and directors have entered into a letter agreement with us, pursuant to which the Initial Shareholders have agreed to waive their redemption rights with respect to their Founder Shares, and the Sponsor and our executive officers and directors have agreed to waive their redemption rights with respect to any Public Shares they may acquire in connection with the completion of the Proposed Transactions. Limitation on Redemption Rights Notwithstanding the foregoing, the Black Spade II Articles provide that a public shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Exchange Act), will be restricted from redeeming its shares with respect to more than an aggregate of 15% of the shares sold in our Initial Public Offering, which we refer to as the “Excess Shares,” without our prior consent. We believe this restriction will discourage shareholders from accumulating large blocks of shares, and subsequent attempts by such holders to use their ability to exercise their redemption rights against the Proposed Transactions as a means to force us or our management to purchase their shares at a significant premium to the then -currentmarket price or on other undesirable terms. Absent this provision, a Public Shareholder holding more than an aggregate of