Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 452

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 452
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 one share of StablecoinX Class A Common Stock and one share of StablecoinX 216 Class B Common Stock for each share of SC Assets Class B Common Stock held by such holder. Upon closing of these transactions, TLGY and the Company will each become wholly -ownedsubsidiaries of StablecoinX, and StablecoinX will become a publicly traded company. See the section entitled “ The Business Combination Proposal” for additional information about the Business Combination Agreement and the Related Agreements. StablecoinX will have a dual class structure, with the shares of StablecoinX Class A Common Stock carrying economic rights but no voting rights other than as required by law and the StablecoinX Certificate of Incorporation, and the shares of StablecoinX Class B Common Stock carrying one vote per share but no economic rights. Immediately following the completion of the Business Combination, (1) all shares of StablecoinX Class A Common Stock will be held by (a) the Public Shareholders, (b) the TLGY Insiders, (c) the Sellers, (d) the PIPE Investors and (e) Ethena and (2) all shares of StablecoinX Class B Common Stock will be held only by (a) Ethena, (b) the TLGY Insiders, and (c) the Sellers. As a result of the ENA Contribution and the Company Merger, immediately following the Closing, Ethena will beneficially own a majority of the voting power of the outstanding shares of StablecoinX Common Stock. Principal Factors Affecting Our Results of Operations and Material Trends Our results of operations and financial performance are expected to be influenced by several key factors related to the success of the Ethena ecosystem, the demand for ENA Tokens, as well as our ability to establish and scale our infrastructure software and services within such ecosystem. Following the Business Combination, the Company plans to provide infrastructure software and services to support the Ethena ecosystem. This may include operating validator infrastructure supporting the Ethena Protocol on the planned Converge Layer -1blockchain, if and when it is launched, and potentially other networks, and expects to generate revenue through transaction validation, staking yields where applicable, ancillary technical services (such as node maintenance, network optimization and protocol upgrades) and potential participation in protocol -basedfees or incentives. However, the launch of the Converge network has been delayed beyond its original targeted launch date of the second quarter of 2025 and, as of the date of this proxy statement