Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 253

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 253
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 Class A ordinary shares concurrently with or immediately following the initial Business Combination, or earlier at the option
of the holder, on a one-for-one basis, subject to adjustment for share subdivisions, share capitalizations, recapitalizations and the
like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary shares or equity-linked
securities are issued or deemed issued in connection with the initial Business Combination, the number of Class A ordinary shares
issuable upon conversion of all founder shares will equal, in the aggregate, 20% of the sum of (i) the total number of Class A
ordinary shares issued and outstanding upon completion of the Initial Public Offering, plus (ii) the total number of Class A
ordinary shares issuable upon conversion of the Class B ordinary shares issued and outstanding upon the completion of the Initial
Public Offering, plus (iii) the total number of Class A ordinary shares issued, or deemed issued or issuable upon conversion
or exercise of any equity-linked securities or rights issued or deemed issued, by the Company in connection with or in relation to the
consummation of the initial Business Combination (including securities issued or issuable pursuant to forward purchase agreements or
backstop arrangements the Company may enter into prior to or following consummation of this offering but excluding the forward purchase
warrants), excluding any Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary
shares issued, or to be issued, to any seller in the initial Business Combination and any private placement warrants issued to the Sponsor,
officers or directors upon conversion of working capital loans, minus (iv) the number of Class A ordinary shares redeemed by
public shareholders; provided that such conversion of founder shares will never occur on a less than one-for-one basis.

<div align='center'>F-17

BLACK SPADE ACQUISITION II CO
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024</div>

NOTE 8 — WARRANTS

As of December 31, 2024, there were 16,220,000 warrants
outstanding, including 5,100,000 Public Warrants and 11,120,000 Private Placement Warrants. Public Warrants may only be exercised for
a whole number of shares. No fractional warrants will be issued upon separation of the Units and only whole warrants will trade.
The Public Warrants will become exercisable on the later of (a) 30 days after the