Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 99

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 99
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, and current and former officers and directors will lose their entire investment in Black Spade II if an initial business combination is not completed; and 49 •Clear Street LLC and Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, as underwriters of Black Spade II’s Initial Public Offering and Black Spade II’s financial advisors, are entitled to a deferred underwriting fee of up to $4,302,000, which will be payable from the amounts held in the Trust Account solely in the event that Black Spade II completes a business combination. Of such amount, $2,007,000 will be calculated on the basis of and paid out of funds available in the Trust Account after payments made out of Trust Account to honor redemption rights of the Public Shareholders, and (ii) up to $2,295,000 is payable at Black Spade II’s and the Sponsor’s sole discretion (such discretionary amount including a fee of $1,500,000 for advisory services). In addition, Clear Street LLC holds 174,987 BSII Public Shares, 4,264 BSII units and 381,939 BSII Warrants. See “Proposal One — The Business Combination Proposal — Interests of Black Spade II’s Directors and Officers in the Business Combination.” Compensation Received by the Sponsor and its affiliates Black Spade II’s sponsor is Black Spade Sponsor LLC II, a limited liability company registered under the laws of the Cayman Islands. On August 20, 2024, the Sponsor transferred a total of 630,000 Founder Shares to directors, officers and certain employees of Sponsor’s affiliates, at a price of $0.006 per share. The Sponsor currently holds 3,266,217 Founder Shares and 11,120,000 Private Placement Warrants. Upon the completion of the Business Combination, the Sponsor and its affiliates will hold a total ofaWME Class A Ordinary Shares andaWME Warrants. The retention of shares by Sponsor and its affiliates will not result in a material dilution of the equity interests of non -redeemingBlack Spade II Shareholders. For more information, please see the sections entitled “ Unaudited Pro Forma Condensed Combined Financial Information” and “Beneficial Ownership of Securities — World Media and Entertainment Universal Inc.” Under the Business Combination Agreement, upon Closing, the Sponsor will be entitled to receive a transaction bonus in the amount of $5,560,000. Such amount will be deducted from the Trust Account, to the