Company: TLGYF
Filing Date: 2025-07-21
Form Type: 425
Source: 0001213900-25-065924
Chunk: 12

Company: TLGY ACQUISITION CORP
Filing Date: 2025-07-21
Form: 425
Chunk 12
---
 its provisions will terminate and be of no further force or effect upon the earlier to occur of (i) the termination of
the Business Combination Agreement pursuant to its terms, (ii) the mutual written consent of the parties thereto, (iii) July 21, 2026
or (iv) if any of the conditions to closing as forth therein are not satisfied or waived as of the Closing Date (as defined therein).

The form of PIPE Subscription Agreement is filed as Exhibit 10.4 to this Form 8-K, and the foregoing description thereof is qualified in its entirety by reference to the full text of the form of the PIPE Subscription Agreement and the terms of which are incorporated by reference herein.

<div align='center'>5</div>

Sponsor Support Agreement

Contemporaneously with the
execution of the Business Combination Agreement, Pubco, TLGY, SC Assets, the TLGY Founder Shareholders and the other parties thereto,
entered into a Sponsor Support Agreement (the “Sponsor Support Agreement”), pursuant to which, among other things, each TLGY
Founder Shareholder agreed (i) to vote in favor of the adoption and approval of, among other things, the Business Combination Agreement
and the related documents to which TLGY is a party, and the Transactions, (ii) not transfer any securities of TLGY held by it until the
earlier of (a) the Closing and (b) the valid termination of the Sponsor Support Agreement, subject to certain exceptions as provided in
the Sponsor Support Agreement or permitted by the Business Combination Agreement or other agreement in connection with the Transactions,
and (ii) following the consummation of the SPAC Merger, to exchange certain shares of Pubco Class A Common Stock issued to them in respect
of their Founder Shares (the “Exchanged Founder Shares”) for shares of Pubco Class B Common Stock and the right to receive
up to an aggregate of 3,000,000 newly issued shares of Pubco Class A Common Stock (the “Earnout Shares”), and to exchange
any SPAC Private Placement Warrants held by such shareholder for the right to receive up to 600,000 Earnout Shares, in each case, upon
the achievement of certain performance and ENA Token price thresholds after the Closing.

The Sponsor Support Agreement
and certain of its provisions will terminate and be of no further force or effect upon the earlier to occur of (i) the seventh anniversary
of the Closing, (ii) the termination of the Business Combination Agreement