Company: TGE
Filing Date: 2025-05-06
Form Type: F-4/A
Source: 0001213900-25-040058
Chunk: 285

Company: Generation Essentials Group
Filing Date: 2025-05-06
Form: F-4/A
Chunk 285
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 that the number of Founder Shares would equal, on an as -convertedbasis, approximately 20% of our issued and outstanding ordinary shares after our Initial Public Offering. On September 26, 2024, the underwriters partially exercised their over -allotmentoption and purchased an additional 300,000 Units. Due to the underwriters’ partial exercise and decision to forfeit the remainder of the over -allotmentoption, 487,500 BSII Class B Ordinary Shares were forfeited and the Sponsor subsequently holds 3,825,000 Founder Shares. In aggregate, the Sponsor currently holds 3,266,217 Founder Shares, and the Initial Shareholders collectively hold 3,825,000 Founder Shares. Offering Proceeds Held in Trust Upon the closing of our Initial Public Offering and the partial exercise of the over -allotmentoption, $153,000,000 was placed in the Trust Account with Continental Stock Transfer & Trust Company acting as trustee. Except for the withdrawal of interest to pay taxes, if any, the Black Spade II Articles provides that none of the funds held in trust will be released from the Trust Account until the earliest of (i) the completion of our initial business combination; (ii) the redemption of our Public Shares if we are unable to complete our initial business combination within the Completion Window, subject to applicable law, or (iii) the redemption of any Public Shares properly submitted in connection with a shareholder vote to amend the Black Spade II Articles (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of the BSII Public Shares if we have not consummated an initial business combination within the Completion Window or (B) with respect to any other provisions relating to shareholders’ rights or pre -initialbusiness combination activity. The proceeds deposited in the Trust Account could become subject to the claims of our creditors, if any, which could have priority over the claims of our Public Shareholders. The proceeds held in the Trust Account will be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a -7under the Investment Company Act that invest only in direct U.S. government treasury obligations. Except as described in the prospectus for our Initial Public Offering and in the section titled “Black Spade II’s Management’s Discussion and Analysis of Financial Condition and Results of Operations,” these proceeds will not be released until the earlier of