Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 52

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 52
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infrastructure software and services business supporting the Ethena ecosystem, which may include operating validator infrastructure on the proposed Converge network, if and when it launches, deploying a decentralized verifier network (a “ DVN”) or similar service, or other technical or operational support for networks or protocols that utilize ENA Token. Based on TLGY’s due diligence investigations of the Ethena ecosystem and the digital asset industry more broadly, including, but not limited to, increased demand from traditional capital market participants to access the Ethena ecosystem and the increased demand for digital dollar alternatives, the TLGY Board believes that the Business Combination with SC Assets is in the best interests of TLGY and its shareholders. See “ The Business Combination Proposal — The TLGY Board’s Reasons for the Approval of the Business Combination” of this proxy statement/prospectus for additional information. xv

Although the TLGY Board believes that the Business Combination with SC Assets presents a unique business combination opportunity and is in the best interests of TLGY and its shareholders, the TLGY Board did consider certain potentially material negative factors in arriving at that conclusion. These factors are discussed in greater detail in the section entitled “ The Business Combination Proposal — The TLGY Board’s Reasons for the Approval of the Business Combination”, of this proxy statement/prospectus as well as in the section of this proxy statement/prospectus entitled “ Risk Factors — Risks Related to StablecoinX and SC Assets’ Business and Industry”. Q.What will TLGY shareholders receive in connection with the Business Combination? A.Pursuant to the Business Combination Agreement, prior to the SPAC Merger, (1) each TLGY Unit will be separated into its component parts, and (2) each TLGY Class B Ordinary Share issued and outstanding will be automatically converted into one TLGY Class A Ordinary Share. Immediately following such conversion, in connection with the SPAC Merger, (a) each TLGY Class A Ordinary Share issued and outstanding immediately prior to the SPAC Merger will automatically convert into one share of StablecoinX Class A Common Stock, and (b) each TLGY Warrant will automatically become a StablecoinX Warrant on substantially the same terms as the TLGY Warrants in accordance with its terms. Immediately following the consummation of the SPAC Merger, the TLGY Insiders have agreed to exchange the Founder Shares and Private Placement Warrants held by them for the Retained Shares. Following the Closing, the only outstanding StablecoinX Warrants will be the publicly traded StablecoinX