Company: TLGYF
Filing Date: 2025-07-21
Form Type: 425
Source: 0001213900-25-065924
Chunk: 6

Company: TLGY ACQUISITION CORP
Filing Date: 2025-07-21
Form: 425
Chunk 6
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months from the date of the Business Combination Agreement, (iii) by written notice of either TLGY or SC Assets if a Governmental Authority
shall have issued an Order taken any other action permanently restraining, enjoining or otherwise prohibiting the Transactions, (iv) by
SC Assets in connection with an uncured breach of a representation, warranty, covenant or other agreement by TLGY, if the breach would
result in the failure of the related condition to Closing, (v) by SC Assets if the TLGY board of directors publicly changes its recommendation
with respect to the Business Combination Agreement and Transactions and related shareholder approvals under certain circumstances detailed
in the Business Combination Agreement, (vi) by TLGY in connection with an uncured breach of a representation, warranty, covenant or other
agreement by SC Assets, Pubco, SPAC Merger Sub or Company Merger Sub, if the breach would result in the failure of the related condition
to Closing, or (vii) by either TLGY or SC Assets if the Extraordinary General Meeting is held and TLGY Shareholder Approval is not received.

None of the parties to the
Business Combination Agreement is required to pay a termination fee or reimburse any other party for its expenses as a result of a termination
of the Business Combination Agreement. However, each party will remain liable for willful breaches of the Business Combination Agreement
or for Fraud Claims prior to termination. Notwithstanding the foregoing, TLGY will also bear all fees, costs and expenses incurred by
any party in connection the filing of the Registration Statement with the SEC and submitting a listing application for Pubco Class A Common
Stock to Nasdaq.

Trust Account Waiver

SC Assets, Pubco, SPAC Merger
Sub and Company Merger Sub agreed that it and its affiliates will not have any right, title, interest or claim of any kind in or to any
monies in TLGY’s trust account held for the TLGY Public Shareholders, and agreed not to, and waived any right to, make any claim
against the trust account (including any distributions therefrom).

The Business Combination Agreement is filed as Exhibit 2.1 to this Form 8-K and the foregoing description thereof is qualified in its entirety by reference to the full text of the Business Combination Agreement and the terms of which are incorporated by reference herein. The filing of the Business Combination Agreement herewith provides investors with information regarding its terms and is not intended to provide any other factual information about the parties. In particular, the assertions embodied