Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 53

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 53
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 or freely transferable. 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. Assuming the fair market value of ENA Token at Closing of $0.7037 per token, the fair value of ENA Token ending September 4, 2025, it is expected that, in each of the No Redemption Scenario, 50% Redemption Scenario and Maximum Redemption Scenario, (1) Ethena will own approximately 14,036,039shares of StablecoinX Class B Common Stock, representing approximately 69.5% of the voting power, (2) the TLGY Insiders will own an aggregate of approximately 5,444,900shares of StablecoinX Class B Common Stock, representing approximately 27.0% of the voting power, and (3) the Sellers will own an aggregate of 700,000shares of StablecoinX Class B Common Stock, representing approximately 3.5% of the voting power, in each case, of the capital stock of StablecoinX. Public Shareholders and the PIPE xvii Investors will have no voting power in StablecoinX following the Closing. See the question and answer below entitled “ How will the number of shares of StablecoinX Common Stock to be issued to the TLGY Insiders, PIPE Investors and Ethena in connection with the Business Combination be impacted by changes in the price of ENA Tokens?” and the section entitled “ The Business Combination Proposal — Related Agreements” for additional information. Q.How will the number of shares of StablecoinX Common Stock to be issued to the TLGY Insiders, PIPE Investors and Ethena in connection with the Business Combination be impacted by changes in the price of ENA Tokens through the Closing? A.The number of shares of StablecoinX Common Stock to be issued to the TLGY Insiders in accordance with the terms of the Sponsor Support Agreement will be 3% of the total outstanding StablecoinX Class A Common Stock outstanding at Closing. The number of shares of StablecoinX Common Stock to be issued to the PIPE Investors and Ethena