Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 395

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 395
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, 2025, we had net loss of $5,025,861, which was primarily due to a loss in fair value of the derivative liabilities of $5,232,409 and general and administrative expenses of $478,193, partially offset by interest income on funds held in Trust of $599,907 and the forgiveness of debt of $84,834. For the six months ended June 30, 2024, we had net income $302,340 which was primarily due to the interest income on funds held in Trust of $1,527,236 and forgiveness of debt of $608,776 partially offset by a loss in fair value of the derivative liabilities of $1,122,044, administration fees — related party of $60,000, and general and administrative costs of $651,628. 187 Off-Balance Sheet Arrangements As of June 30, 2025, we did not have any off -balancesheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S -Kand did not have any commitments or contractual obligations other than obligations disclosed herein. Contractual Obligations IPO Registration Rights In connection with the IPO, the holders of the Founder Shares (including any TLGY Class A Ordinary Shares issued upon conversion of TLGY Class B Ordinary Shares), Private Placement Warrants and any warrants that may be issued upon conversion of the working capital loans and loans made to extend our time period for consummating an initial business combination (and in each case holders of their component securities, as applicable) entered into a registration rights agreement, which requires us to register a sale of any of our securities held by them on November 30, 2021, as supplemented by a joinder to the registration rights agreement on June 20, 2024, requiring us to register such securities for resale (in the case of the Founder Shares, only after conversion to our TLGY Class A Ordinary Shares). Pursuant to the terms of that agreement, the holders of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities. In addition, the holders had “piggy -back” registration rights to include their securities in other registration statements filed by TLGY. We agreed to bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The underwriters of our IPO were entitled to a cash underwriting discount of 2.0% of the gross proceeds of the IPO, or $4,000,