Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 241

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 241
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 assistance in implementing and closing the Business Combination, including but not limited to coordinating marketing efforts. Under the terms of such engagement, upon the closing of the Business Combination, the Advisors will receive a fee of $1,500,000 in return for such advisory services which will be shared equally among them (which will be payable from the amounts held in the Trust Account solely in the event that Black Spade II completes a business combination as part of the Black Spade II Initial Public Offering underwriters’ deferred underwriting fee of up to $4,302,000). This agreement expires eighteen months from the date thereof, unless extended in writing by the parties. 144 PROPOSAL ONE — THE BUSINESS COMBINATION PROPOSAL The following is a discussion of the proposed Business Combination and the Business Combination Agreement. This is a summary only and may not contain all of the information that is important to you. This summary is subject to, and qualified in its entirety by reference to, the Business Combination Agreement, a copy of which is attached to this proxy statement/prospectus as Annex A (Business Combination Agreement). Black Spade II Shareholders are urged to read this entire proxy statement/prospectus carefully, including the Business Combination Agreement, for a more complete understanding of the Business Combination. In this section, “TGE” refers to The Generation Essentials Group. Under the Business Combination Agreement, the Closing is conditioned on approval of the Business Combination Proposal. Additionally, each of the Business Combination Proposal and the Merger Proposal is cross -conditionedon the approval of each other. If any one of these proposals is not approved by the Black Spade II Shareholders, the Business Combination shall not be consummated. General Transaction Structure The Business Combination Agreement provides for the merger of Merger Sub with and into Black Spade II, with Black Spade II surviving the Business Combination as a wholly owned subsidiary of TGE. In connection with the Business Combination, TGE will amend and restate its currently effective memorandum and articles of association and adopt the Amended TGE Articles, the form of which is attached hereto as Annex C. Pro Forma Capitalization The pro forma equity valuation of TGE upon consummation of the Transactions is estimated to be between $400 million and $500 million. We estimate that, upon completion of the Business Combination: •under the “no redemptions” scenario, Black Spade II Public Shareholders would own an ownership interest of approximately 22.5% of TGE’s Ordinary Shares, BSII Founder Share