Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 425

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 425
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 following the completion of our IPO or until we are no longer an “emerging growth company,” whichever is earlier. 200 INFORMATION ABOUT SC ASSETS Unless otherwise indicated or the context otherwise requires, references in this section of the proxy statement / prospectus to “we”, “our”, or the “Company” and similar terms refer to SC Assets’ business (or StablecoinX’s) after the Business Combination, shall generally refer to SC Assets before the Business Combination or StablecoinX after the Business Combination, respectively. Overview The Company was formed solely to participate in the Business Combination and is a newly formed operating company that intends to focus its operations on providing infrastructure software and related services within the Ethena Protocol. The Company has no existing business currently and anticipates that its core operations will include providing infrastructure software and services, which may include running validator nodes, providing decentralized verification, monitoring or other technical services, or delivering other infrastructure software and services, to support networks, protocols and products within the Ethena ecosystem. Additionally, StablecoinX will adopt a treasury strategy focused on acquiring, holding and potentially utilizing ENA Tokens, the native token of the Ethena Protocol, starting with the ENA Token it will receive in connection with the closing of the PIPE and ENA Contribution. This strategy is intended to ensure long -termfinancial stability and align the Company’s interests with the growth of the Ethena ecosystem. The timing, size and availability of any future discounted ENA Token offerings by the Ethena Foundation are uncertain and therefore there can be no assurance that this strategy will generate returns or that additional ENA Token acquisitions will occur. See the section entitled “ Risk Factors — Risks Related to Our Relationship with the Ethena Foundation, its Products and the Ethena Protocol — Our business will be centered on supporting the Ethena ecosystem through infrastructure software and related services and holding and acquiring its products, including ENA Token. Our dependence on the Ethena Foundation will create concentration risk, and, as a result, a deterioration in our relationship or the Ethena Foundation’s support for a competing business or digital asset treasury strategy company could materially harm our business” for additional information. SC Assets was incorporated in Delaware on June 30, 2025, and is in the early stages of organizational development. Our Business Strategy StablecoinX’s primary objective will be to establish itself as a reliable and efficient provider of infrastructure software and services within the Ethena ecosystem. Such services are expected to include potential validator operations, decentralized verification,