Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 316

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 316
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 •reviewed a draft, dated July18, 2025, of the Business Combination Agreement; •reviewed a draft of the Sponsor Support Agreement; •reviewed a draft of the PIPE Subscription Agreement; •reviewed a draft of the Collaboration Agreement; •reviewed a draft of the Token Purchase Agreement; •reviewed certain publicly available business and financial information relating to TLGY and Ethena; 131 •reviewed detailed capitalization table information relating to SC Assets that was provided by the management of TLGY, approved for Scalar’s use by TLGY and not publicly available; •conducted discussions with members of the senior management of SC Assets and TLGY concerning the business, operations, and financial prospects of SC Assets and the Transactions; •reviewed current and historical market prices of the TLGY Class A Ordinary Shares and ENA tokens; •reviewed certain pro forma effects relating to the Transactions, including estimated transaction costs and the effects of anticipated financings, that were provided by the management of TLGY; and •conducted such other financial studies, analyses and investigations, and considered such other information, as deemed necessary or appropriate. In performing its analyses and rendering the Fairness Opinion with respect to the Business Combination, Scalar, with TLGY’s consent: •relied upon the accuracy, completeness and fair presentation of all information, data, advice, opinions and representations obtained from public sources or provided to it from private sources, including TLGY, SC Assets and StablecoinX and their respective managements, including all financial, legal, regulatory, tax, accounting and other information provided to, discussed with or reviewed by Scalar, and did not independently verify such information; •relied upon the fact that the TLGY Board and TLGY were advised by counsel as to legal matters with respect to the Business Combination, including whether applicable procedures required by law to be taken in connection with the Business Combination were duly, validly and timely taken in all material respects; •assumed that any estimates, evaluations, forecasts and projections and any other forward -lookinginformation furnished to Scalar, which consisted solely of transaction -relatedestimates of pro forma book value of equity, including the amount of anticipated ENA contributions (both locked and unlocked), PIPE proceeds, and certain discounts that these investors were expected to receive on the ENA closing price, were reasonably prepared and based upon the best currently available information and good faith judgment of the management of SC Assets, and Scalar expresses no opinion with respect to such estimates, evaluations, forecasts and projections and any