Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 161

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 161
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 revenues generated from operations to fund all of the cash requirements of its activities. Future financings may not be available on a timely basis, in sufficient amounts or on terms acceptable to StablecoinX, if at all. Any debt financing or other financing of securities senior to StablecoinX Class A Common Stock will likely include financial and other covenants that will restrict its flexibility. Any failure to comply with these covenants may cause an event of default and acceleration of the obligation to pay the debt, which would have a material adverse effect on StablecoinX’s business, prospects, financial condition and results of operations and StablecoinX could lose its existing sources of funding and impair its ability to secure new sources of funding. There can be no assurance that StablecoinX will be able to generate any further investor interest in its securities or other types of funding, in which case investors would likely lose the entirety of their investment in StablecoinX. Risks Related to StablecoinX and SC Assets’ Business and Industry SC Assets has no operating history and has not yet produced any revenues, which make it difficult to evaluate StablecoinX’s business and future prospects, and StablecoinX may not be able to achieve or maintain profitability in any given period. SC Assets was incorporated as a Delaware corporation on June 30, 2025. SC Assets has no operating history and the volatile nature of the price of ENA Token, which will constitute a substantial part of our assets, makes it difficult to evaluate our future prospects. SC Assets’ lack of operating history will also make it difficult to accurately forecast the future results of operations, which is subject to a number of uncertainties, including StablecoinX’s ability to operate, maintain and grow its validator business and the market size and growth opportunities within the Ethena ecosystem. StablecoinX’s initial business strategy depends in part on its ability to raise capital to continue to acquire additional ENA Token. StablecoinX cannot guarantee its ability to raise additional capital, or to raise additional capital on favorable terms, which may adversely impact our business. See “ StablecoinX’s ability to timely raise capital in the future may be limited, or may be unavailable on acceptable terms, if at all. StablecoinX’s failure to raise capital when needed could harm its business, operating results and financial condition.” StablecoinX’s ability to generate income initially will largely be dependent on its ability to raise capital to acquire additional ENA Token and to earn staking rewards on the ENA Token in its treasury. StablecoinX expects to establish