Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 234

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 234
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 |                 |         — |   |     |        |   — |   |     |            |          — |   |     |             |     32,742 |   |     |               |      32,742 |   |
| Net income                                                                            |     |                 | — |     |        | — |     |                 |         — |   |     |        |   — |   |     |            |          — |   |     |             |  1,232,096 |   |     |               |   1,232,096 |   |
| Balance – December 31, 2024                                                           |     |                 | — |     | $      | — |     |                 | 3,825,000 |   |     | $      | 382 |   |     | $          |          — |   |     | $           | (3,190,466 | ) |     | $             |  (3,190,084 | ) |

| (1) | Includes an aggregate of up to 562,500 Class B ordinary                                                                             
 shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters. On September 26, 
 2024, the underwriters partially exercised their over-allotment option to purchase an additional 300,000 units at a purchase price  
 of $10.00 per Unit, and forfeited their option to purchase an additional 1,950,000 units. As a result, 487,500 Founder Shares were  
 forfeited on September 26, 2024 (see Note 5).                                                                                       |

<div align='center'>The accompanying notes are an integral part of
these financial statements.

F-5

BLACK SPADE ACQUISITION II CO

STATEMENT OF CASH FLOWS

FOR THE PERIOD FROM MAY 9, 2024 (INCEPTION) THROUGH DECEMBER 31, 2024</div>

| Cash Flows from Operating Activities:                                                       |     |   |              |   |
|:--------------------------------------------------------------------------------------------|:----|:--|-------------:|:--|
| Net income                                                                                  |     | $ |    1,232,096 |   |
| Adjustments to reconcile net income to net cash used in operating activities:               |     |   |              |   |
| Payment of general and administrative costs through promissory note                         |     |   |