Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 318

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 318
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 statutes and the rules and regulations promulgated thereunder. Given TLGY’s nature as a special purpose acquisition company, for purposes of Scalar’s opinion and with TLGY’s consent Scalar assumed a value of $12.35 per share of StablecoinX Class A Common Stock in calculating the value of the StablecoinX Class A Common Stock to be issued as part of the Consideration under the Business Combination Agreement, with such $12.35 per share value being based on (a) the value of the cash held in the Trust Account as of June 30, 2025 which was $6,051,707, dividedby (b) 489,887, which is the number of outstanding Public Shares subject to redemption as of June 30, 2025. In rendering its opinion, Scalar did not express any view or opinion as to what the value of any StablecoinX Class A Common Stock will be when issued pursuant to the Transactions or the price or range of prices at which any the TLGY Class A Ordinary Shares, the TLGY Class B Ordinary Shares, or other securities or financial instruments of or relating to TLGY or the Transactions, including the ENA Tokens, which may trade or otherwise be transferable at any time before or after announcement or consummation of the Transactions. Additionally, we express no opinion with respect to the exchanged Founder Shares, StablecoinX Warrants, SC Assets Common Stock, or any Earnout Shares. To the extent that any of the foregoing assumptions, representations or any of the facts on which the Fairness Opinion is based prove to be untrue in any material respect, the Fairness Opinion cannot and should not be relied upon. Furthermore, in Scalar’ analysis and in connection with the preparation of the Fairness Opinion, Scalar made numerous assumptions with respect to industry performance, general business, market and economic conditions and other matters, many of which are beyond the control of any party involved in the Business Combination. Scalar prepared the Fairness Opinion effective as of July 20, 2025. The Fairness Opinion is necessarily based upon market, economic, financial and other conditions as they existed and could be evaluated as of the date of the Fairness Opinion, and Scalar disclaimed any undertaking or obligation, and has no obligation, to update the Fairness Opinion or advise any person of any change in any fact or matter affecting the Fairness Opinion which may come or be brought to the attention of Scalar after the date of the Fairness Opinion. Scalar did not consider any potential legislative or regulatory changes currently