Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 62

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 62
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 of the Business Combination, the funds in the Trust Account will be used by Black Spade II to pay holders of the BSII Public Shares who exercise redemption rights, to pay fees and expenses incurred in connection with the Business Combination with TGE and to repay any loans owed by Black Spade II to Sponsor. Any remaining funds will be paid to TGE (or as otherwise designated in writing by TGE to Black Spade II prior to the Closing) and used for working capital and general corporate purposes of TGE. Q:What happens if a substantial number of Public Shareholders vote in favor of the Business Combination Proposal and exercise their redemption rights? A:The Black Spade II Public Shareholders may vote in favor of the Business Combination and still exercise their redemption rights, although they are not required to vote in any way to exercise such redemption rights. Accordingly, the Business Combination may be consummated even though the funds available from the Trust Account and the number of Public Shareholders is substantially reduced as a result of redemptions by the Black Spade II Public Shareholders. To the extent that there are fewer Public Shares and Public Shareholders, the trading market for the TGE ordinary shares may be less liquid than the market was for the BSII Class A Ordinary Shares prior to the Business Combination, and TGE may not be able to meet the listing standards of a Qualified Stock Exchange. In addition, to the extent of any redemptions, fewer funds from the Trust Account would be available to TGE to be used in its business following the consummation of the Business Combination. Q:What happens if the Business Combination is not consummated? A:If Black Spade II does not complete the Business Combination with TGE or another business combination within the Completion Window, Black Spade II shall cease all operations except for the purpose of winding up, must redeem 100% of the outstanding Public Shares, at a per -shareprice, payable in cash, equal to an amount then held in the Trust Account (excluding interest earned and dissolution expenses) in accordance with the Black Spade II articles and, as promptly as reasonably possible following such redemption, subject to the approval of Black Spade II’s remaining shareholders and the Black Spade II Board, liquidate and dissolve. The Sponsor and Black Spade II’s officers and directors have waived their redemption rights with respect to their Founder Shares in the event a business combination is not effected in the required time period, and, accordingly, their Founder Shares will be worthless. Additionally, in the event