Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 888

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 888
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ovenants with respect to the Custodial Account (as defined herein) and (iv) that if and to the extent necessary in connection with the termination of this Subscription Agreement in accordance with its terms, Ethena has agreed to unlock a portion of the Locked ENA Tokens (as defined herein) as described in Section 2(f)(i) , subject to the terms and conditions set forth therein; WHEREAS, in connection with the Transactions and concurrently with the execution of the Business Combination Agreement, the Company, Pubco and TLGY entered into subscription agreements (the “ Signing Subscription Agreements ”) with certain other investors (collectively, the “ Signing Subscribers ”), pursuant to which such Signing Subscribers agreed to purchase an aggregate of approximately $363 million of Shares (as defined below), including the $60 million Ethena ENA Contribution, immediately prior to the Company Merger (the Shares of the Signing Subscribers, the “ Signing Subscribed Shares ”, and the subscriptions and issuances thereunder, the “ Signing Subscriptions ”); Annex G-3-1 WHEREAS, in connection with the Transactions and to facilitate the transactions contemplated by the Signing Subscription Agreements, Ethena OpCo and the Company entered into a token purchase agreement dated July 21, 2025 (the “ Signing Token Purchase Agreement ”), pursuant to which Ethena OpCo agreed to sell to the Company (solely in its capacity as administrative agent effectuating the purchase solely for the benefit of the Signing Subscribers making the Cash PIPE Deposit (as defined in the Signing Subscription Agreements) until the Closing, such capacity, the “ Administrative Agent ”), a number of discounted locked ENA tokens (the “ Locked ENA Tokens ”) equal to the (i) Locked ENA Purchase Amount (as defined in the Signing Subscription Agreements), divided by (ii) (x) the ENA Fair Market Value at Signing (as defined in Schedule A to the Signing Subscription Agreements) multiplied by (y) 1 minus thirty percent (30%), and deposit such Locked ENA Tokens in the Custodial Account; WHEREAS, in connection with the Transactions, Subscriber desires to subscribe for and purchase from the Company, on the Closing Date (as defined below) and immediately prior to the Company Merger, a number of shares of Company Class A Common Stock (the “ Subscribed Shares ”) at a purchase price of $10.00 per share (the “ Per Share Price ”) for the aggregate purchase price set forth on the signature