Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 628

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 628
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 SPAC Merger, the “Mergers”), as a result of which the holders of shares of SC Assets’ Class A common stock, par value $0.0001 per share, will receive one share of the Company’s Class A Common Stock for each share of the SC Assets’ Class A Common Stock and holders of the SC Assets’ Class B common stock, par value $0.0001 per share will receive one share of the Company’s Class A Common Stock and one share of the Company’s Class B common stock, par value $0.0001 per share, for each share of the SC Assets’ Class B Common stock. As a result of the Mergers and the other transactions contemplated by the Business Combination Agreement (the “Transactions” or “Business Combination”), TLGY and SC Assets will become wholly -ownedsubsidiaries of Pubco and Pubco will become a publicly traded company. Once operational, through the operations of SC Assets, the Company will represent a newly -formedvalidator and infrastructure business supporting the Ethena ecosystem that will run validator nodes and stake its own token treasury, and may offer staking services to institutional clients for their specific blockchain protocol. The Company was founded by Young Cho, who is also the Chief Executive Officer and Director of TLGY and SC Assets. Liquidity and Going Concern The Company’s unaudited condensed consolidated financial statements have been prepared on a going concern basis, which assumes that the Company will be able to meet its obligations and continue its operations to support the closing of the pending Business Combination Agreement during the twelve months following the issuance of these unaudited condensed consolidated financial statements. These unaudited condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. The Company’s ability to continue to meet its obligations, to achieve its business objectives and continue as a going concern is dependent upon several factors, primarily being the consummation of the planned SPAC transaction. If additional financing is required from outside sources, the Company may not be able to raise it on terms acceptable to the Company or at all. If the Company is unable to raise additional capital when desired, the Company’s business would be materially and adversely affected. F-88 StablecoinX Inc. and Subsidiaries
Notes to Unaudited Condensed Consolidated Financial Statements
September 30, 2025 Note 1. Description of Business