Company: TGE
Filing Date: 2025-04-25
Form Type: F-4/A
Source: 0001213900-25-035536
Chunk: 101

Company: Generation Essentials Group
Filing Date: 2025-04-25
Form: F-4/A
Chunk 101
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 potentially make the merger more difficult or impossible to complete. • Publicity Risks.The potential that TGE may be vulnerable to negative media publicity about its industries in general or regarding its businesses or affiliated persons, which may negatively impact its brand recognition and reputation. 48 • Shareholder Vote.Black Spade II Shareholders may fail to provide the respective votes necessary to effect the merger. • Closing Conditions.The completion of the merger is conditioned on the satisfaction of certain closing conditions that are not within Black Spade II’s control. • Litigation.The possibility of litigation challenging the Business Combination Agreement or that an adverse judgment granting permanent injunctive relief could delay or prevent consummation of the Business Combination. • No Fairness Opinion.The Black Spade II Board considered the fact that the parties to the Business Combination have not sought any fairness opinion in connection to the Business Combination. • Liquidation of Black Spade II.The risks and costs to Black Spade II if the merger is not completed, including the risk of diverting management focus and resources from other business combination opportunities, which could result in Black Spade II being unable to effect a business combination within the Completion Window. • Listing Risks.The securities of TGE after the Business Combination may not be able to list on a major U.S. stock exchange, which could limit investors’ ability to sell their securities. • Reduced Influence of Black Spade II Shareholders.The existing Black Spade II Shareholders will hold a minority position in TGE after the Business Combination. In addition, although the Sponsor may appoint up to two non -votingobservers to TGE’s board of directors for so long as the Sponsor and its affiliates maintain a minimum level of ownership in the TGE Class A Ordinary Shares, no incumbent director of Black Spade II will serve in TGE after the Business Combination as director and neither the Sponsor or its affiliates will have any right to appoint or nominate any directors to the TGE board. This may reduce the influence that Black Spade II’s current shareholders have on the management of the post -combinationcompany. • Fees and Expenses.The risk of the expected fees and expenses associated with the Business Combination, some of which would be payable regardless of whether the Business Combination Agreement is consummated. • Other Risks.Various other risks associated with the Proposed Transactions, the business of the TGE and the business of Black Spade II described under “ Risk Factors.” In addition to considering the factors described above, the Black Spade II Board also considered that the officers and some of the directors