Company: TGE
Filing Date: 2025-05-06
Form Type: F-4/A
Source: 0001213900-25-040058
Chunk: 450

Company: Generation Essentials Group
Filing Date: 2025-05-06
Form: F-4/A
Chunk 450
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 The Founder Shares include an aggregate of up to 562,500shares subject to forfeiture to the extent that the underwriters’ over -allotmentis not exercised in full or in part, so that the number of Founder Shares will equal, on an as -convertedbasis, approximately 20% of the Company’s issued and outstanding ordinary shares after the Initial Public Offering. On September 26, 2024, the underwriters partially exercised their over -allotmentoption and purchased an additional 300,000 Units. Due to the partial exercise and the decision to forfeit the remaining option, 487,500 Class B ordinary shares were forfeited and the Sponsor subsequently holds 3,825,000 Founder Shares. On August 20, 2024, the Sponsor transferred a total of 630,000 Founder Shares to directors, officers and certain employees of Sponsor’s affiliates, at a price of $0.006 per share. The sale of the Founders Shares to each of the directors, officers and certain employees of Sponsor’s affiliates is in the scope of FASB ASC Topic 718, “Compensation -StockCompensation” (“ASC 718”). Under ASC 718, stock -basedcompensation associated with equity -classifiedawards is measured at fair value upon the grant date. The fair value of the 630,000shares granted F-14 BLACK SPADE ACQUISITION II CO
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024 NOTE 5 — RELATED PARTY TRANSACTIONS (cont.) to the directors, officers and certain employees of Sponsor’s affiliates was $1,096,200 or $1.74 per share. The Founders Shares were granted subject to a performance condition (i.e., the occurrence of a Business Combination). Compensation expense related to the Founders Shares is recognized only when the performance condition is probable of occurrence under the applicable accounting literature in this circumstance. As of December 31, 2024, the Company determined that a Business Combination is not considered probable, and, therefore, no stock -basedcompensation expense has been recognized. Stock -basedcompensation would be recognized at the date a Business Combination is considered probable (i.e., upon consummation of a Business Combination) in an amount equal to the number of Founder Shares times the grant date fair value per share (unless subsequently modified) less the amount initially received for the purchase of the Founder Shares. The Sponsor has agreed, subject to limited exceptions, not to transfer,