Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 590

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 590
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 liability will be adjusted to fair value, with the change in fair value recognized in the Company’s statements of operations. The Company will reassess the classification at each balance sheet date. If the classification changes as a result of events during the period, the warrants will be reclassified as of the date of the event that causes the reclassification. As of December 31, 2024 and 2023, the derivative warrant liability was $457,466 and $352,772, respectively. NOTE 9 — FAIR VALUE MEASUREMENTS The following table presents information about the Company’s assets and liabilities that are measured at fair value at December 31, 2024 and 2023, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

|                                                | Description |   | Level |   | December 31, 
         2024 |     |   | Level |   | December 31, 
         2023 |
|:-----------------------------------------------|:------------|--:|:------|:--|-------------:|:----|--:|:------|:--|-------------:|
| Assets:                                        |             |   |       |   |              |     |   |       |   |              |
| Investments held in Trust Account              |             | 1 |       | $ |   44,332,605 |     | 1 |       | $ |   65,954,638 |
| Liabilities:                                   |             |   |       |   |              |     |   |       |   |              |
| Warrant liability – Private Placement Warrants |             | 3 |       |   |      226,316 |     | 3 |       |   |      188,472 |
| Warrant liability – Public Warrants            |             | 1 |       |   |      231,150 |     | 1 |       |   |      164,300 |

The Public Warrants and the Private Placement Warrants were accounted for as liabilities in accordance with ASC 815 -40and are presented within liabilities on the balance sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the statements of operations. Upon issuance, the Company used a Monte Carlo simulation model to value the Public Warrants. The Company utilized a modified Black -Scholesmodel to value the Private Placement Warrants. The