Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 243

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 243
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 in connection with the Initial Public Offering and the private placement in accordance with the guidance contained in
FASB ASC Topic 815, “Derivatives and Hedging”. Accordingly, the Company evaluated and classified the warrant instruments
under equity treatment at their assigned values.

Class A Ordinary Shares Subject to Possible Redemption

The public shares contain a redemption feature which
allows for the redemption of such public shares in connection with the Company’s liquidation, or if there is a shareholder vote
or tender offer in connection with the Company’s initial Business Combination. In accordance with ASC 480-10-S99, the Company
classifies public shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control
of the Company. The Company recognizes changes in redemption value immediately as they occur and will adjust the carrying value of redeemable
shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering,
the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable
shares will result in charges against additional paid-in capital (to the extent available) and an accumulated deficit. Accordingly, as
of December 31, 2024, Class A ordinary shares subject to possible redemption are presented at redemption value as temporary
equity, outside of the shareholders’ deficit section of the Company’s balance sheet. As of December 31, 2024, the Class A
ordinary shares subject to redemption reflected in the balance sheet are reconciled in the following table:

| Gross proceeds                                                            |     | $ | 153,000,000 |   |
| Less:                                                                     |     |   |             |   |
| Proceeds allocated to Public Warrants                                     |     |   |    (555,900 | ) |
| Proceeds allocated to the over-allotment option                           |     |   |    (253,969 | ) |
| Class A ordinary shares issuance costs                                    |     |   |  (7,384,717 | ) |
| Plus:                                                                     |     |   |             |   |
| Remeasurement of carrying value to redemption value                       |     |   |  10,539,735 |   |
| Class A Ordinary Shares subject to possible redemption, December 31, 2024 |     | $ | 155,345,149 |   |

<div align='center'>F-12

BLACK SPADE ACQUISITION II CO
NOTES