Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 98

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 98
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 of StablecoinX Class A Common Stock does not include any shares of StablecoinX Class A Common Stock to be issued to Young Cho or Edward Chen as TLGY Insiders. (7)The number of shares of StablecoinX Class A Common Stock does not include the 9,749,516shares of StablecoinX Class A Common Stock to be issued to Ethena OpCo as one of the Additional PIPE Investors. Voting Rights of StablecoinX StablecoinX will have two classes of shares outstanding at the Closing, shares of StablecoinX Class A Common Stock, which will have no voting rights other than as required by applicable law, and shares of StablecoinX Class B Common Stock, which will have one vote per share. Holders of StablecoinX Class A Common Stock will be entitled to receive distributions in proportion to the number of shares of StablecoinX Class A Common Stock held by them, to the extent there are any, whereas holders of StablecoinX Class B Common Stock will have no economic rights. In addition, the shares of StablecoinX Class A Common Stock will be listed for trading and will be freely transferable, subject to the terms of the Lock -UpAgreements (as defined herein) and any restrictions pursuant to applicable laws, while the shares of StablecoinX Class B Common Stock will not be listed or freely transferable. Immediately following the completion of the Business Combination, (1) all shares of StablecoinX Class A Common Stock will be held by (a) the Public Shareholders, (b) the TLGY Insiders, (c) the Sellers, (d) the PIPE Investors and (e) Ethena and (2) all shares of StablecoinX Class B Common Stock will be held only by (a) Ethena, (b) the TLGY Insiders, and (c) the Sellers. Assuming the fair market value of ENA Token at Closing of $0.7037 per token, the fair value of ENA Token ending September 4, 2025, it is expected that (1) Ethena will own approximately 14,036,039shares of StablecoinX Class B Common Stock, representing approximately 69.5% of the voting power, (2) the TLGY Insiders will own an aggregate of approximately 5,444,900shares of StablecoinX Class B Common Stock, representing approximately 27.0% of the voting power, and (3) the Sellers will own an aggregate of