Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 696

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 696
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. The Founder Shares included an aggregate of up to 562,500shares subject to forfeiture to the extent that the underwriters’ over -allotmentwas not exercised in full or in part, so that the number of Founder Shares would equal, on an as -convertedbasis, approximately 20% of Black Spade II’s issued and outstanding ordinary shares after Black Spade II’s IPO. On September 26, 2024, the underwriters partially exercised their over -allotmentoption and purchased an additional 300,000 Units. Due to the partial exercise and the decision to forfeit the remaining option, 487,500 Class B Ordinary Shares were forfeited and the Sponsor subsequently holds 3,825,000 Founder Shares. 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. As of December 31, 2024, the Sponsor owned 3,266,217 Founder Shares. The Sponsor has agreed, subject to limited exceptions, not to transfer, assign or sell any of the Founder Shares until the earlier to occur of (A) six months after the completion of the initial Business Combination or earlier if, subsequent to the initial Business Combination, the closing price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 -tradingday period commencing at least 150 days after the initial Business Combination, and (B) the date following the completion of the initial Business Alt-3 Combination on which Black Spade II completes a liquidation, merger, share exchange or other similar transaction that results in all of the shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property. These restrictions do not extend to the aWME Class A Ordinary Shares that the Sponsor will receive in exchange for their Founder Shares as a result of the Merger. More information about Black Spade II, World Media and Entertainment Universal Inc. and the Business Combination is contained in the accompanying prospectus. Black Spade II and World Media and Entertainment Universal Inc. urge you to read the accompanying prospectus, including the financial statements and annexes and other documents referred to herein, carefully and in their entirety. In particular, you should carefully consider the matters discussed under “Risk Factors