Company: TGE
Filing Date: 2025-04-25
Form Type: F-4/A
Source: 0001213900-25-035536
Chunk: 87

Company: Generation Essentials Group
Filing Date: 2025-04-25
Form: F-4/A
Chunk 87
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 Transactions On May 21, 2024, the Sponsor purchased 4,312,500 of BSII Class B Ordinary Shares (the “Founder Shares”) in exchange for a capital contribution of $25,000 that was paid by the Sponsor for deferred offering costs. The Founder Shares included an aggregate of up to 562,500shares subject to forfeiture to the extent that 40 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, officer to the Black Spade II IPO Lock -UpRestrictions. The Black Spade II IPO Lock -UpRestrictions do not extend to the securities that the Sponsor will receive in exchange for its Founder Shares as a result of the Merger. Background of the Business Combination Black Spade II is a blank check company incorporated in the Cayman Islands on May 9, 2024 for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or assets. The proposed Business Combination was the result of an extensive search for potential transactions utilizing Black Spade II’s global network and the investing, operating and transaction experience of Black Spade II’s management team and advisors and the Black Spade II Board. The terms of the Business Combination Agreement were the result of extensive arm’s length negotiations among Black Spade II, TGE and their respective representations. Promptly following its consummation of Black Spade II’s IPO, Black Spade II commenced an active search and consideration of potential target businesses. Black Spade II sought out potential target businesses based on internal research and through the networks of relationships of its management, board of directors and with professional service providers (lawyers, accountants, consultants, finders and investment bankers). Black Spade II educated these parties on its structure as a special purpose acquisition and its criteria for