Company: TLGYF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108215
Chunk: 33

Company: TLGY ACQUISITION CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 33
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  Balance, December 31, 2023  $188,472    Change in fair value of derivative warrant liabilities   81,756    Balance, September 30, 2024  $270,228    22  The key inputs into the Monte Carlo simulation model and the modified Black-Scholes model to value the derivative warrant liabilities were as follows:      September 30,                                             2025   December 31,      2024   Share price  $12.69   $11.64    Exercise price  $11.50   $11.50    Risk-free interest rate   3.64%   4.19%   Expected life of warrants   1.51 years    1.32 years    Expected volatility of underlying shares   de                                             minimis %   de                                             minimis %  Dividend yield   0.00%   0.00%   Probability of business combination   20.00%   10.00%    As of September 30, 2025 and December 31, 2024, the derivative warrant liability was $27,311,400 and $457,466, respectively. In addition, for the nine months ended September 30, 2025 and 2024, the Company recorded a loss on the change in fair value of the derivative warrant liabilities on the statements of operations of $26,853,934 and $193,456, respectively.  

NOTE 10 – SEGMENT INFORMATION ASC Topic 290, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customer. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker (“CODM”), or group, in deciding how to allocate resources and assess performance.  The Company’s CODM has been identified as the Chief Executive Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one operating segment.   When evaluating the Company’s performance and making key decision regarding resource allocation, the CODM assesses performance for the single segment and decides how to allocate resources based on net income or loss that also is reported on the statements of operations as net income