Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 363

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 363
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 pro forma condensed combined financial information should be read in conjunction with, the following: •unaudited financial statements of TLGY for the nine months ended September30, 2025 and the related notes, included elsewhere in this proxy statement/prospectus; and •unaudited condensed financial statements of SC Assets as of September 30, 2025 and the related notes, included elsewhere in this proxy statement/prospectus. •unaudited condensed consolidated financial statements of StablecoinX as of September 30, 2025 and the related notes, included elsewhere in this proxy statement/prospectus. The unaudited pro forma combined financial information has been prepared to illustrate the effect of the Business Combination and other material transactions and has been prepared for informational purposes only. The transactions will be accounted for as a reverse recapitalization in accordance with GAAP. Under this method of accounting, TLGY will be treated as the “acquired” company for financial reporting purposes. Accordingly, the transactions will be treated as the equivalent of SC Assets issuing stock for the net assets of TLGY, accompanied by a recapitalization. The net assets of TLGY will be stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the transactions will be those of SC Assets. See “— Anticipated Accounting Treatment” below. Description of the Business Combination On July 21, 2025, TLGY entered into the Business Combination Agreement with SC Assets, StablecoinX, SPAC Merger Sub, and Company Merger Sub (collectively, the “ Parties”), pursuant to which and upon the consummation of the transactions contemplated thereby, (a) TLGY will merge with and into SPAC Merger Sub, with SPAC Merger Sub continuing as the surviving company, and (b) immediately following the SPAC Merger, Company Merger Sub will merge with and into SC Assets, with SC Assets continuing as the surviving company. As a result of the Mergers and the other transactions contemplated by the Business Combination Agreement, TLGY and SC Assets will become wholly -ownedsubsidiaries of StablecoinX and StablecoinX will become a publicly traded company. The equity exchange and financing related matters associated with the Business Combination are summarized as follows: i. On July 21, 2025, TLGY, Ethena Foundation (“ Ethena”), SC Assets, and StablecoinX entered into a Contribution Agreement whereby, conditioned on, and immediately prior to the Company Merger, Ethen