Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 156

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 156
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 market price of StablecoinX Class A Common Stock may decline below $10.00 per share, and you may not be able to sell your StablecoinX Class A Common Stock at or above $10.00 per share, or at all. An inactive market may also impair StablecoinX’s ability to raise capital to continue to fund operations. 46 The market price of StablecoinX Class A Common Stock may decline as a result of the Business Combination. The market price of StablecoinX Class A Common Stock may decline as a result of the Business Combination for a number of reasons including if: •the price of ENA Token declines or the reputation of and/or demand for investment in the Ethena ecosystem diminishes; •investors react negatively to the prospects of StablecoinX’s business and the prospects of the Business Combination; •the effect of the Business Combination on StablecoinX’s business and prospects is not consistent with the expectations of financial or industry analysts; or •StablecoinX does not achieve the perceived benefits of the Business Combination as rapidly or to the extent anticipated by financial or industry analysts. Reports published by analysts, including projections in those reports that differ from StablecoinX’s actual results, could adversely affect the price and trading volume of its common shares. Securities research analysts may establish and publish their own periodic projections for StablecoinX following consummation of the Business Combination. These projections may vary widely and may not accurately predict the results StablecoinX actually achieves. StablecoinX’s share price may decline if its actual results do not match the projections of these securities research analysts. Similarly, if one or more of the analysts who write reports on StablecoinX downgrades its stock or publishes inaccurate or unfavorable research about its business, StablecoinX’s share price could decline. If one or more of these analysts ceases coverage of StablecoinX or fails to publish reports on StablecoinX regularly, StablecoinX’s share price or trading volume could decline. While TLGY expects research analyst coverage following consummation of the Business Combination, if no analysts commence coverage of StablecoinX, the market price and volume for StablecoinX Class A Common Stock could be adversely affected. See also “— If securities or industry analysts do not publish research or reports about StablecoinX’s business or publish negative reports, the market price of StablecoinX Class A Common Stock could decline.” StablecoinX’s stock price may change significantly following the Business Combination and you could lose all or part of your investment as a result. Following the