Company: TLGYF
Filing Date: 2025-08-11
Form Type: 425
Source: 0001213900-25-074000
Chunk: 3

Company: TLGY ACQUISITION CORP
Filing Date: 2025-08-11
Form: 425
Chunk 3
---
 of directors of TLGY in determining whether or not to pursue the
proposed Business Combination; the failure of Pubco to obtain or maintain the listing of its securities on any securities exchange after
closing of the proposed Business Combination; risks associated with TLGY, SC Assets and Pubco’s ability to consummate the proposed
Business Combination timely or at all, including in connection with potential regulatory delays or impediments, changes in ENA Token
prices or for other reasons; costs related to the proposed Business Combination and as a result of becoming a public company; changes
in business, market, financial, political and regulatory conditions; risks relating to Pubco’s anticipated operations and business,
including the volatile nature of the price of ENA Token; the risk that Pubco’s stock price will be highly correlated to the price
of ENA Token and the price of ENA Token may decrease between the signing of the definitive documents for the proposed Business Combination
and the closing of the proposed Business Combination or at any time after the closing of the proposed Business Combination; risks associated
with TLGY, SC Assets and Pubco’s ability to consummate the proposed Business Combination timely or at all, including in connection
with potential regulatory delays or impediments, changes in ENA Token prices or for other reasons; risks related to increased competition
in the industries in which Pubco will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty
regarding ENA Token; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; risks that after consummation
of the proposed Business Combination, Pubco experiences difficulties managing its growth and expanding operations; the risks that launching
and growing Pubco’s ENA Token treasury advisory and services in digital marketing and strategy could be difficult; challenges in
implementing Pubco’s business plan, due to operational challenges, significant competition and regulation; being considered to
be a “shell company” by any stock exchange on which Pubco’s Class A Common Stock will be listed or by the SEC, which
may impact Pubco’s ability to list its securities and restrict reliance on certain rules or forms in connection with the offering,
sale or resale of securities; the outcome of any potential legal proceedings that may be instituted against Pubco, SC Assets, TLGY or
others following announcement of the proposed Business Combination, and those risk factors discussed in documents that Pubco and/or TLGY
has filed, or will file, with the SEC. The foregoing list of risk factors is not