Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 340

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 340
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 as follows: (A) the ENA Contribution Amount divided by (B) (x) $10.00 multiplied by (y) a fraction, the numerator of which is (i) the 30 -DayVWAP of ENA Tokens ending two (2) days prior to the date of signing the Contribution Agreement (or $0.3008), and the denominator of which is (ii) the 30 -DayVWAP of ENA Tokens ending two (2) days prior to the Closing Date. Since the 30 -DayVWAP of ENA Tokens on the Closing Date which is needed to determine the number of shares of SC Assets Class B Common Stock to be issued to Ethena will not be known prior to the Closing Date, the Company has estimated the number of such shares to be issued using the 30 -dayVWAP of ENA Tokens ending September 4, 2025 for purposes of these pro forma financial statements (or $0.7037). ii.On July 21, 2025, SC Assets, TLGY, StablecoinX and certain investors (the “ Initial PIPE Investors”) entered into PIPE Subscription Agreements (as they may be further amended, modified, supplemented or otherwise modified from time to time in accordance with their terms the “ Initial PIPE Subscription Agreements”) whereby the Initial PIPE Investors have agreed to contribute (i) an aggregate of $261,886,135 in cash or U.S. Dollar denominated stable coins (“ USDC” or “ USDT”, respectively) (collectively, “ Cash” and the aggregate PIPE proceeds paid in Cash, the “ Initial Cash PIPE Proceeds”), which was deposited into a Custodial Account established for the benefit of the Initial PIPE Investors promptly following the signing of the Initial PIPE Subscription Agreements, and (ii) an additional $41,207,260 in ENA Tokens into an account designated by SC Assets no later than two business days prior to the Closing (the “ Initial In -Kind PIPE Proceeds” and, together with the Initial Cash PIPE Proceeds, the “ Initial PIPE Gross Proceeds”), in each case, in exchange for shares of SC Assets Class A Common Stock to be issued immediately prior to the Company Merger. Upon deposit of the Initial Cash PIPE Proceeds into the Custodial Account and in accordance with the terms of the Initial Token Purchase Agreement, SC Assets, acting as administrative agent for the Initial PIPE Investors, used the Initial Cash PIPE Proceeds (less approximately $2.5 million