Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 260

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 260
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 SC Assets and Ethena OpCo will jointly instruct the Custodian to release, in no event later than four business days after such termination date, the ENA Return Amount together with the Permitted Expense Amount (net of any fees and expenses related to the applicable Custodial Account), on a pro rata basis, to the applicable Cash PIPE Investors. To the extent any PIPE Investors who paid for their PIPE Shares with ENA Token had already delivered their ENA Token in accordance with the terms of the PIPE Subscription Agreement, such ENA Token would be promptly (but in no event later than four business days after such termination date) returned to such PIPE Investor. The number of PIPE Shares to be issued to each PIPE Investor will be calculated as follows: the total purchase price paid by such PIPE Investor, divided by (B)(x) $10.00 per share, multiplied by (y) a fraction, the numerator of which is (1) the ENA Fair Market Value at Signing (as defined in the applicable PIPE Subscription Agreement) and the denominator of which is (2) the ENA Fair Market Value at Closing (as defined in the applicable PIPE Subscription Agreement). The closing of the PIPE is contingent upon the satisfaction of all closing conditions to consummate the Transactions and the PIPE Investors’ consent to any amendments, modifications or waivers to the terms of the Business Combination Agreement that would reasonably be expected to materially and adversely affect the economic benefits of the PIPE Investors, among other customary closing conditions. Pursuant to the PIPE Subscription Agreements, TLGY and StablecoinX have agreed to use commercially reasonable efforts to cause the shares of StablecoinX Class A Common Stock into which the PIPE Shares will be converted upon consummation of the Company Merger to be registered on the registration statement of which this proxy statement/prospectus forms a part. To the extent that any such shares of StablecoinX Class A Common Stock are unable to be included therein, StablecoinX has agreed to certain obligations to register and maintain the registration of the PIPE Shares, including that, within 30 calendar days after the Closing, StablecoinX will file with the SEC (at StablecoinX’s sole cost and expense) a registration statement registering the resale of the PIPE Shares, and StablecoinX shall use its commercially reasonable efforts to have such registration statement declared effective as soon as practicable after the filing thereof, but no later than 60 calendar days after the Closing, which may be extended to 90 calendar days if the SEC reviews and comments on the registration statement.