Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 89

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 89
---
 our future
operating results will be after giving effect to these events, and (iv) do not reflect all actions that may be undertaken by us after
the Transactions, TGE Reorganization and Black Spade II’s IPO.

Description of the Transactions

On January 27, 2025,
Black Spade II entered into the Business Combination Agreement with The Generation Essentials Group and WME Merger Sub Limited, a
wholly owned subsidiary of The Generation Essentials Group (“Merger Sub”). Pursuant to the Business Combination Agreement,
on June 3, 2025, Merger Sub merged with and into Black Spade II, with Black Spade II surviving the Merger. As a result of the Merger,
and upon consummation of the Merger and the other transactions entered into in connection with the Business Combination Agreement, Black
Spade II became a wholly owned subsidiary of The Generation Essentials Group, with the securityholders of Black Spade II becoming
securityholders of The Generation Essentials Group. After the completion of the Transactions, (i) the Class A Ordinary Shares
became listed on the NYSE under the trading symbol “TGE,” (ii) the Warrants became listed on the NYSE American under the trading
symbol “TGE WS,” and (iii) The Generation Essentials Group became a publicly-listed entity.

<div align='center'>47</div>

Pursuant to the Business Combination
Agreement at the Merger Effective Time:

| ● | Each Class B ordinary share of Black Spade II, par value $0.0001 per share (“BSII Class B Ordinary                              
 Shares”) that was issued and outstanding immediately prior to the Merger Effective Time was automatically cancelled in exchange 
 for the right to receive one Class A Ordinary Share;                                                                            |

| ● | Each Class A ordinary share of Black Spade II, par value $0.0001 per share (“BSII Class A Ordinary                                       
 Share”) that was issued and outstanding immediately prior to the Merger Effective Time (other than such BSII Class A Ordinary Shares     
 that were treasury shares, validly redeemed shares or BSII Dissenting Shares (as defined below)) was cancelled in exchange for the right 
 to receive one Class A Ordinary Share;                                                                                                   |

| ● | Each BSII Class A Ordinary Share that was held as a treasury share was cancelled and cease to exist; |

| ● | Each issued and outstanding BSII Class A Ordinary Share that was validly redeemed was cancelled in exchange                              
 for the right to