Company: TGE
Filing Date: 2025-04-25
Form Type: F-4/A
Source: 0001213900-25-035536
Chunk: 12

Company: Generation Essentials Group
Filing Date: 2025-04-25
Form: F-4/A
Chunk 12
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, respectively. The actual ownership of TGE Class A Ordinary Shares, TGE Class B Ordinary Shares and TGE Preferred Shares as a result of the Business Combination will be within the parameters described by the five scenarios above. However, there can be no assurance regarding which scenario will be closest to the actual results. Shareholders will experience additional dilution to the extent The Generation Essentials Group issues additional shares after the Closing. The table above excludes (a) 16,220,000 TGE Ordinary Shares that would be issuable in aggregate upon the exercise of 11,120,000 Private Placement Warrants and 5,100,000 Public Warrants; (b) TGE Ordinary Shares representing Earnout Shares that will be issuable if the relevant triggering events described herein occur; and (c) TGE Class A Ordinary Shares that will be available for issuance under TGE’s incentive award plan immediately following the completion of the Business Combination. Compensation Received by the Sponsor and its Affiliates Black Spade II’s sponsor is Black Spade Sponsor LLC II (the “Sponsor”), a limited liability company registered under the laws of the Cayman Islands. 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 Sponsor currently holds 3,266,217 Founder Shares and 11,120,000 Private Placement Warrants. Upon the completion of the Business Combination, the Sponsor and its affiliates will hold a total ofTGE Class A Ordinary Shares andTGE Warrants. The retention of shares by Sponsor and its affiliates will not result in a material dilution of the equity interests of non -redeemingBlack Spade II Shareholders. For more information, please see the sections entitled “Unaudited Pro Forma Condensed Combined Financial Information” and “Beneficial Ownership of Securities — The Generation Essentials Group.” Under the Business Combination Agreement, upon Closing, the Sponsor will be entitled to receive a transaction bonus in the amount of $5,560,000. Such amount will be deducted from the Trust Account, to the extent there remain any funds in the Trust Account after application of the funds in the Trust Account to satisfy any Black Spade II Shareholder Redemptions, and any shortfall will be paid by The Generation Essentials Group. Conflicts of Interest Since the Sponsor, its affiliates, representatives and the Black Spade II officers and directors (the “Sponsor Related Parties”),