Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 688

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 688
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ated, supplemented, or otherwise modified from time to time, the “ Business Combination Agreement ” and the transactions contemplated by the Business Combination Agreement, the “ Transactions ”), with StableCoinX SPAC Merger Sub LLC (“ SPAC Merger Sub ”) and StableCoinX Company Merger Sub, Inc. (the “ Company Merger Sub ”), pursuant to which, among other things, (a) SPAC will merge with and into SPAC Merger Sub, with SPAC Merger Sub continuing as the surviving entity (the “ SPAC Merger ”) and (b) immediately following the SPAC Merger, Company Merger Sub will merge with and into Opco, with Opco continuing as the surviving company (the “ Company Merger ”, and together with the SPAC Merger, the “ Mergers ”); WHEREAS, in connection with the Transactions, Pubco will acquire SPAC and Opco and will become a publicly traded company; WHEREAS, in connection with the Transactions, pursuant to the Contribution Agreement (as defined below), the Foundation has agreed to contribute $60,000,000 of ENA (as defined below) to Opco, calculated in accordance with the Contribution Agreement, in exchange for shares of Opco Class B Common Stock to be issued by Opco prior to the Company Merger; WHEREAS, on July 21, 2025, SPAC, Opco and Pubco entered into subscription agreements (the “ Signing PIPE Agreements ”) with certain third-party subscribers pursuant to which such third-party subscribers have agreed to purchase shares of Opco Class A Common Stock for (i) cash, USDC and/or USDT (the “ Signing Cash PIPE Subscribers ”) or (ii) ENA (the “ Signing In Kind PIPE Subscribers ”), or a combination of (i) and (ii), in each case, which shares of Opco Class A Common Stock will be issued by Opco prior to the Company Merger; WHEREAS, Ethena OpCo and Opco, serving as administrative agent for the Signing Cash PIPE Subscribers, entered into a token purchase agreement, dated July 21, 2025 (the “Signing Token Purchase Agreement ”), pursuant to which Ethena OpCo has agreed to sell to Opco, solely in its capacity as administrative agent for the Signing Cash Subscribers, a number of discounted ENA tokens in an amount equal to the Signing Cash PIPE Proceeds (as defined below) less the Signing Permitted Expense