Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 281

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 281
---
 and Norman served as co -presidentsof TLGY until their resignation on April 19, 2023 and March 28, 2024, respectively. 111 Terminated Business Combination with Verde Bioresins, Inc. Prior to the closing of the Securities Transfer Transaction, the Prior TLGY Board Members approved the execution of an agreement and plan of merger with Verde Bioresins, Inc. (“ Verde”), which was executed on June 21, 2023 (as amended, the “ Verde Merger Agreement”). In light of unfavorable market conditions resulting in the inability for the parties to secure necessary financing (including a PIPE) on reasonable terms, on March 18, 2024, the parties to the transaction agreed to terminate the Merger Agreement and related agreements. Following the termination of the Verde Merger Agreement, Former TLGY Management continued to evaluate other possible business combination targets until their respective resignations from the company. Following the termination of the Verde Merger Agreement and the consummation of the Securities Transfer Agreement, all of the Prior TLGY Management team and Prior TLGY Board Members resigned except for Jin -GoonKim who resigned from his role as Chief Executive Officer but remained on as Chairman and Donghyun Han, who stayed on as a director of TLGY until his resignation in December 2024. Search for a Target Business Subsequent to the Securities Purchase Transaction, TLGY under the Current Sponsors reviewed ten targets other than SC Assets. TLGY’s new management and board reviewed and engaged with numerous potential targets across various sectors. These included: • Company A:Prior to the execution of the Securities Transfer Agreement and in his ordinary business as an investor, Edward Chen, the managing partner of Carnegie Park Capital LLC (“ Carnegie”), which is the manager of each of the Current Sponsors, was introduced to a potential opportunity with Company A, a social media video platform focused on promoting free speech, by Vikas Desai, who was appointed as a director and the Chief Executive Officer of TLGY after the Securities Transfer Transaction. On July30, 2024, TLGY entered into a non -bindingletter of intent (“ LOI”) with Company A for a transaction that if consummated, would result in Company A merging with TLGY with the combined entity being publicly listed for trading on a major stock exchange in the United States. Following extensive due diligence review of Company A, which uncovered some inconsistencies in Company A’s visitor metrics, the parties agreed to mutually terminate the letter of intent on September13, 202