Company: TLGYF
Filing Date: 2025-07-23
Form Type: 425
Source: 0001213900-25-066790
Chunk: 0

Company: TLGY ACQUISITION CORP
Filing Date: 2025-07-23
Form: 425
Chunk 0
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Filed by TLGY Acquisition Corp.

Pursuant to Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934

Subject Company: TLGY Acquisition Corp.

Commission File No. 001-41101

Date: July 22, 2025

As previously announced, on
July 21, 2025, TLGY Acquisition Corp., a Cayman Islands exempted company (“TLGY”), StableCoinX Assets Inc., a Delaware corporation
(“SC Assets”), StableCoinX Inc., a Delaware corporation, (“Pubco”), StableCoinX SPAC Merger Sub LLC, a Delaware
limited liability company and a wholly-owned subsidiary of Pubco (“SPAC Merger Sub”), and StableCoinX Company Merger Sub,
Inc., a Delaware corporation and a wholly-owned subsidiary of Pubco (“Company Merger Sub”), entered into a business combination
agreement (the “Business Combination Agreement”), for a business combination transaction (the “Transaction”) that
will result in, among other things, TLGY and SC Assets becoming wholly owned subsidiaries of Pubco and Pubco becoming a publicly traded
company.

On July 21, 2025, Ethena
Labs and Zach Rosenberg, General Counsel of Ethena Labs, posted on LinkedIn relating to the Transaction. Also on July 21, 2025, Guy Young,
the Founder and CEO of Ethena Labs and Steven Shi, Head of Institutional Growth of Ethena Labs, posted on X relating to the Transaction.
In addition, on July 21, 2025, Conor Ryder, Head of Research of Ethena Labs, posted on Discord relating to the Transaction. The social
media posts are provided below.

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