Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 55

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 55
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, will vary based on the difference between the fair market value of ENA Token at the signing of the applicable agreement and the fair market value of ENA Token at the Closing. Neither TLGY nor SC Assets can predict what the fair market value of ENA Token will be at Closing. As a result, the number of shares StablecoinX Common Stock to be issued in connection with the Business Combination may differ from the amounts presented in the tables above. See the section entitled “ Unaudited Pro Forma Condensed Combined Financial Information” and 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. See also the risk factors entitled “ Risks Relating to the Business Combination and TLGY — StablecoinX may issue additional shares of StablecoinX Class A Common Stock or other equity securities without your approval, which would dilute your ownership interests and may depress the market price of your shares” and “ Risks Relating to the Business Combination and TLGY — TLGY’s shareholders who do not redeem their Public Shares will have a reduced economic ownership and no voting interest after the Business Combination and will exercise less influence over management” for additional information. (6)The number of shares of StablecoinX Class A Common Stock does not include any shares of StablecoinX Class A Common Stock to be issued to Young Cho or Edward Chen as TLGY Insiders. (7)The number of shares of StablecoinX Class A Common Stock does not include the 3,528,827 shares of StablecoinX Class A Common Stock to be issued to Ethena OpCo as one of the Additional PIPE Investors. The following table illustrates the potential dilutive effect of the Public Warrants (in all scenarios) assuming all Public Warrants are exercised:

|                        |     | Economic Interests in StablecoinX(1) |     |       |                   |     |            |     |       |               |     |            |     |       |   |
| No Redemptions(2)      |     |                                      |     |       | 50% Redemption(3) |     |            |     |       | Maximum       
 Redemption(4) |     |            |     |       |   |
| Shares(5)              |