Company: TGE
Filing Date: 2025-04-25
Form Type: F-4/A
Source: 0001213900-25-035536
Chunk: 88

Company: Generation Essentials Group
Filing Date: 2025-04-25
Form: F-4/A
Chunk 88
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 an acquisition. Black Spade II also responded to inquiries from investment bankers or other similar professionals who represented companies engaged in a sale or financing process. On a regular basis, Black Spade II’s directors were updated with respect to the status of the business combination search. Input received from Black Spade II’s directors was material to management’s evaluation of a potential business combination. From the consummation of Black Spade II’s IPO through the signing of the Business Combination Agreement with TGE on January 27, 2025, representatives of Black Spade II contacted and were contacted by a number of individuals and entities with respect to business combination opportunities and engaged in discussions with several possible target businesses in various sectors including enabling technology, lifestyle brands, products, or services and entertainment media that Black Spade II was focused on with respect to potential transactions. Black Spade II discussed with those parties its general, nonexclusive criteria and guidelines that it believed were important in evaluating potential targets for the initial business combination, including: •compatibility with Black Spade II’s target sectors and uniqueness of target business; •large total addressable market and strong growth potential; •recent historical operating performance with strong track records; •market leadership with sustainable competitive advantage; •positive revenue and EBITDA and growth potential; •potential synergies brought by the business combination and Black Spade II’s expertise in capital markets; and •a strong and experienced management and operational teams that Black Spade II could potentially work alongside and augment as the business scales. During the search process, Black Spade II reviewed approximately 15 potential targets in a wide range of industries, including enabling technology, lifestyle brands, products, or services and entertainment media, and entered into non -disclosureagreements and engaged in preliminary discussions with respect to potential business combination opportunities with approximately six potential targets (collectively, the “Other Potential Acquisitions”). Black Spade II did not execute any letters of intent or memorandum of understanding with other companies. The Black Spade II 41 Board ultimately determined to pursue a business combination with TGE over the Other Potential Acquisitions. Upon conducting further detailed due diligence of these potential acquisition targets, Black Spade II together with the management and/or shareholders of these potential targets decided not to proceed to drafting merger agreements. With the exception of TGE, Black Spade II did not consider the other alternative acquisition targets that it evaluated to be as compelling when taking into consideration their respective business prospects, strategy, management teams, structure, growth potential, likelihood of execution and valuation considerations. Mr