Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 303

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 303
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 evaluating the terms of the Business Combination. • Other Risks.Various other risks exist, including operational, technological, regulatory, or financial risks associated with StablecoinX, the ENA Token, USDe protocol, and the broader digital -assetecosystem, as more fully described in the “ Risk Factors” section elsewhere in this proxy statement/prospectus. After weighing these and other considerations, the TLGY Board concluded that the potential benefits of the Business Combination with StablecoinX — including strategic exposure to the Ethena ecosystem, validator -basedrevenue, enhanced ENA tokenomics through the proposed Converge network or other validation opportunities in the Ethena ecosystem utilizing ENA Token, discounted ENA Token purchase opportunities, staking -relatedyields, governance -alignedstructures, and first -moverpublic company advantage — outweigh the identified risks. As a result, the Board determined that the Business Combination Agreement is fair to and in the best interests of TLGY and its shareholders. Interests of Certain TLGY Persons in the Business Combination When you consider the recommendation of the TLGY Board in favor of approval of the Business Combination Proposal and the other Shareholder Proposals included herein, you should keep in mind that the Sponsors and TLGY’s directors and officers have interests in such proposals that are different from, in addition to and/or in conflict with, those of the TLGY shareholders generally. Further, TLGY’s officers and directors have additional fiduciary or contractual obligations to other entities pursuant to which such officer or director is or will be required to present a business combination opportunity to such entity, which are set forth in more detail in the section titled “ Other Information Related to TLGY — Conflicts of Interest”. We believe there were no such opportunities that were not presented as a result of the existing fiduciary or contractual obligations of our officers and directors to other entities. The TLGY Board was aware of and considered these interests, among other matters, in evaluating and negotiating the Business Combination and Business Combination Agreement and in recommending to our shareholders that they vote in favor of the Shareholder Proposals to be presented at the extraordinary general meeting, including the Business Combination Proposal. TLGY shareholders should take these interests into account in deciding whether to approve the Shareholder Proposals to be presented at the extraordinary general meeting, including the Business Combination Proposal. These interests include, among other things: •Young Cho, the Chief Executive Officer and Executive Director of TLGY, and Edward Chen, the managing partner of the manager of the Current Sponsors