Company: TLGYF
Filing Date: 2025-08-25
Form Type: 425
Source: 0001213900-25-080375
Chunk: 0

Company: TLGY ACQUISITION CORP
Filing Date: 2025-08-25
Form: 425
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Filed by TLGY Acquisition Corp.

Pursuant to Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934

Subject Company: TLGY Acquisition Corp.

Commission File No. 001-41101

Date: August 25, 2025

As previously announced, on July 21, 2025, TLGY
Acquisition Corp., a Cayman Islands exempted company (“TLGY”), StableCoinX Assets Inc., a Delaware corporation (“SC
Assets”), StableCoinX Inc., a Delaware corporation, (“Pubco”), StableCoinX SPAC Merger Sub LLC, a Delaware limited liability
company and a wholly-owned subsidiary of Pubco (“SPAC Merger Sub”), and StableCoinX Company Merger Sub, Inc., a Delaware corporation
and a wholly-owned subsidiary of Pubco (“Company Merger Sub”), entered into a business combination agreement (the “Business
Combination Agreement”), for a business combination transaction (the “Transaction”) that will result in, among other
things, TLGY and SC Assets becoming wholly owned subsidiaries of Pubco and Pubco becoming a publicly traded company.

On August 24, 2025, Guy Young,
the founder of Ethena Labs S.A., gave an interview on goodalexander relating to, among other things, the proposed Transaction. A transcript
of the relevant portion of the interview is provided herewith.

On August 25, 2025, SC Assets
made the following communication on X.com.

Interview Transacript

goodalexander:I see,
so kind of as I think about this, there’s Tether which is the natural cross for every futures contract on Binance and I don’t
think that’s going away anytime soon. There’s Circle which in my mind is the GENIUS bill compliant chain that wants to integrate
with Visa and Mastercard. And then there’s you guys which are the very, very high yield returning coin. There’s not a lot
of other kind of opportunities when you kind of think about those three different things.

One thing I wanted to double click on was that
there’s this recent BlackRock BUIDL TVL deal that seems kind of disparate from your core offering and there’s almost like an institutional
aspect here as well as what appears to be your own layer 2 which is powered by Celestia. I was just wondering if you could talk about
those two initiatives