Company: TGE
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001213900-25-057225
Chunk: 251

Company: Generation Essentials Group
Filing Date: 2025-06-24
Form: F-1
Chunk 251
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,950,000 Units.

<div align='center'>F-16

BLACK SPADE ACQUISITION II CO
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024</div>

NOTE 6 — COMMITMENTS AND CONTINGENCIES (cont.)

The underwriters were entitled to a cash underwriting
discount of $0.20 per Unit, or 2%, or $3,000,000 in aggregate, paid at the closing of the Initial Public Offering. The underwriters paid
the Company an aggregate amount of $400,000 at the closing of the Initial Public Offering as reimbursement to the Company for certain
of its expenses and fees incurred in connection with the Initial Public Offering. Additionally, the underwriters were entitled to a cash
underwriting discount of $60,000 for the partial over-allotment exercise, which closed and was paid on September 26, 2024. In addition,
the underwriters were entitled to a deferred fee of up to $0.30 per Unit, or 3% of the gross proceeds of the offering, or up to $4,302,000
in the aggregate (including the partial over-allotment exercised which closed on September 26, 2024). The deferred fee will be payable
to the underwriters from the amounts held in the Trust Account solely in the event that the Company completes a Business Combination,
subject to the terms of the underwriting agreement.

NOTE 7 — SHAREHOLDERS’ DEFICIT

Preference Shares —The Company
is authorized to issue 1,500,000 preference shares with a par value of $0.0001 per share with such designations, voting and other rights
and preferences as may be determined from time to time by the Company’s board of directors. As of December 31, 2024, there
were no preference shares issued or outstanding.

Class A Ordinary Shares —The
Company is authorized to issue 150,000,000 Class A ordinary shares with a par value of $0.0001 per share. Holders of Class A
ordinary shares are entitled to one vote for each share. As of December 31, 2024, there were no Class A ordinary shares issued
or outstanding, excluding 15,300,000 Class A ordinary shares subject to possible redemption.

Class B Ordinary Shares —The
Company is authorized to issue 15,000,000 Class B ordinary shares with a par value of $0.0001 per