Company: TLGYF
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001410578-25-000276
Chunk: 11

Company: TLGY ACQUISITION CORP
Filing Date: 2025-03-05
Form: 10-K
Item: Item 13C
Chunk 11
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 certain limited exceptions, be transferred, assigned or sold by the holder.

Commencing on November 30, 2021 through the earlier of consummation of our initial business combination and our liquidation, we are paying our sponsor $15,000 per month for office space, utilities, secretarial and administrative support services provided to members of our management team. Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees. On June 19, 2024, the Company and the former sponsor entered into a letter agreement (the “Termination Letter”) terminating the Administrative Services Agreement, dated November 30, 2021, by and between the Company and the former sponsor. Pursuant to the Termination Letter, the Company and the former sponsor agreed to irrevocably release, waive, and forever discharge the Company and its successors or assigns, the former sponsor and its members, directors, advisors, officers and its holding company, from any and all actions, compensations, fees and expenses, obligations and claims of all types and nature, including all sums that may be or have been accrued or outstanding, arising from or in connection with the Administrative Services Agreement. During the nine months ended September 30, 2024 and 2023, the Company incurred $60,000 and $90,000, respectively, pursuant to the administrative services agreement. As of September 30, 2024 and December 31, 2023, there was $15,000 due to related party in connection with the administrative service agreement.

No compensation of any kind, including finder’s and consulting fees, will be paid by the company to our sponsor, officers and directors, or any of their respective affiliates, for services rendered prior to or in connection with the completion of an initial business combination other than as described elsewhere in this Annual Report.

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