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TLGY Acquisition (TLGY) - 2025 Q4 - Annual Report
2026-03-31 12:57
Financial Performance - The company reported a net loss of $14,782,020 for the year ended December 31, 2025, primarily due to a change in fair value of derivative warrant liabilities of $14,336,209[147]. - For the year ended December 31, 2024, the company had a net income of $1,986,072, driven by interest income on funds held in trust of $2,598,427[148]. - The company reported a working capital deficit of $5,991,280 as of December 31, 2025, indicating liquidity challenges[156]. - If the company cannot raise additional funds or complete a business combination by April 16, 2026, it will cease operations except for liquidation purposes, raising substantial doubt about its ability to continue as a going concern[157]. IPO and Fundraising - The company generated gross proceeds of $200,000,000 from its IPO of 20,000,000 units at a price of $10.00 per unit on December 3, 2021[149]. - An additional $30,000,000 was generated from the sale of 3,000,000 Option Units at $10.00 per unit, following the full exercise of the over-allotment option by underwriters[150]. - The company incurred $14,183,689 in transaction costs related to the IPO, including $4,000,000 in underwriting fees and $8,650,000 in deferred underwriting fees[150]. - The underwriters of the IPO received a cash underwriting discount of 2.0% of the gross proceeds, totaling $4,000,000, with additional deferred underwriting fees of $8,650,000 to be paid upon completion of the initial business combination[160]. Business Combination and Operations - The company entered into a business combination agreement with StablecoinX Assets Inc. on July 21, 2025, which will result in the company becoming a wholly owned subsidiary of StablecoinX[135]. - The company has continued to evaluate other possible business combination targets following the termination of the merger agreement with Verde Bioresins[145]. - The company has not engaged in any operations or generated revenues to date, with activities focused on preparing for the IPO and searching for a target for the initial business combination[146]. - The company received a notice from Nasdaq on December 2, 2024, regarding non-compliance with listing rules due to not completing an initial business combination within 36 months, leading to trading suspension[144]. - The company redeemed 15,681,818 Class A ordinary shares at approximately $10.40 per share in February 2023 as part of an extension to complete an initial business combination[151]. Legal and Accounting Matters - The company has a legal agreement to pay $130,000 to its prior legal counsel contingent upon the successful consummation of the initial business combination[161]. - A mutual release agreement with Verde Bioresins stipulates that the company will pay $83,125 only if the initial business combination is consummated[162]. - The company accounts for warrant liabilities as liabilities at fair value, subject to re-measurement at each reporting period[164]. - Class A ordinary shares subject to possible redemption are classified as temporary equity, reflecting certain redemption rights outside the company's control[167]. - The company did not consider the effect of warrants in calculating diluted loss per share, resulting in diluted net loss per ordinary share being the same as basic net loss per ordinary share[169]. - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new or revised accounting standards[172].
TLGY Acquisition (TLGY) - 2025 Q3 - Quarterly Report
2025-11-10 21:12
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41101 TLGY Acquisition Corporation (Exact name of registrant as specified in its charter) | Cayman Islands | 98-1603634 | | ...
TLGY Acquisition (TLGY) - 2025 Q2 - Quarterly Report
2025-08-07 20:04
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41101 TLGY Acquisition Corporation (Exact name of registrant as specified in its charter) Cayman Islands 98-16 ...
SHAREHOLDER ALERT: The M&A Class Action Firm Launches Legal Inquiry for the Merger: TLGYF, EFIN, CEPO, and SQCF
Prnewswire· 2025-07-25 21:31
Core Viewpoint - Monteverde & Associates PC is actively investigating several mergers involving various companies, highlighting potential shareholder interests and rights in these transactions [1][2][3]. Group 1: Mergers and Acquisitions - TLGY Acquisition Corporation is merging with StableCoinX Assets Inc., where each Class A ordinary share of TLGY will convert into one share of Class A common stock of StableCoinX [1]. - Eastern Michigan Financial Corporation is merging with Mercantile Bank Corporation, with each outstanding share of Eastern Michigan common stock converting into $32.32 in cash and 0.7116 shares of Mercantile common stock [1]. - Cantor Equity Partners I, Inc. is merging with BSTR Holdings, Inc., where Class B ordinary shares will convert into Class A ordinary shares of Cantor, and all Class A ordinary shares will be exchanged for Class A common stock of BSTR [2]. - Susquehanna Community Financial, Inc. is merging with Citizen & Northern Corp., with each outstanding share of Susquehanna common stock converting into 0.80 shares of Citizen & Northern common stock [2]. Group 2: Legal Representation and Services - Monteverde & Associates PC is recognized as a top firm in the 2024 ISS Securities Class Action Services Report, having recovered millions for shareholders [1]. - The firm operates from the Empire State Building and has a successful track record in litigating class action securities cases [3]. - The firm emphasizes the importance of legal representation for shareholders concerned about their rights in the context of these mergers [4].
TLGY Acquisition (TLGY) - 2025 Q1 - Quarterly Report
2025-05-07 20:05
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41101 TLGY Acquisition Corporation (Exact name of registrant as specified in its charter) Cayman Islands 98-1 ...
TLGY Acquisition (TLGY) - 2024 Q4 - Annual Report
2025-03-05 21:01
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41101 TLGY Acquisition Corporation (Exact name of registrant as specified in its charter) | Cayman Islands | 98-16036 ...
TLGY Acquisition (TLGY) - 2024 Q3 - Quarterly Report
2024-11-19 21:06
Financial Performance - For the three months ended September 30, 2024, the company reported a net income of $1,197,813, primarily due to interest income of $561,391 and a gain in the change in fair value of derivative liabilities of $928,588 [165]. - For the nine months ended September 30, 2024, the company had a net income of $1,500,153, driven by interest income of $2,088,627 and debt forgiveness of $608,776 [168]. - The company incurred $14,183,689 in transaction costs related to the IPO, including $4,000,000 in underwriting fees [170]. - The per-share redemption amount for ordinary shares rendered for redemption on October 19, 2023, was calculated to be approximately $10.96 per share [173]. - Net income per ordinary share is calculated using the two-class method, with net income allocated based on total shares [191]. Cash and Investments - As of September 30, 2024, the company had cash and investments held in the trust account amounting to $43,642,805, intended for the initial business combination [177]. - As of September 30, 2024, the company had a working capital deficit of $4,127,121 [179]. Business Operations - The company has not engaged in any operations or generated revenues to date, focusing on organizational activities and searching for a target for the initial business combination [164]. - The company expects to incur significant costs in pursuing its initial business combination and cannot assure the success of its capital-raising plans [163]. - The company has determined that if it does not complete an initial business combination by April 16, 2025, it will cease operations and liquidate, raising substantial doubt about its ability to continue as a going concern [180]. Accounting and Reporting - The company accounts for warrants as liabilities at fair value, adjusting them at each reporting period, with changes recognized as non-cash gains or losses [188]. - The fair value of public warrants is determined using quoted market prices, while private placement warrants are valued using a Black-Scholes-Merton model [189]. - Class A ordinary shares subject to possible redemption are classified as temporary equity, reflecting uncertain future events outside the company's control [190]. - The adoption of ASU 2016-13 on January 1, 2023, did not have a material impact on the company's financial statements [193]. - The company qualifies as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards [196]. - The company is evaluating the benefits of reduced reporting requirements under the JOBS Act, which may exempt it from certain disclosures for five years post-IPO [197]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures [198].
TLGY Acquisition (TLGY) - 2024 Q1 - Quarterly Report
2024-05-17 20:30
Table of Contents | UNITED STATES | | | --- | --- | | SECURITIES AND EXCHANGE COMMISSION | | | Washington, D.C. 20549 | | | FORM 10-Q | | | (Mark One) | | | ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | For the quarterly period ended March 31, 2024 | | | ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | For the transition period from to | | | Commission file number: 001-41101 | | | TLGY Acquisition Corporation | ...
TLGY Acquisition (TLGY) - 2023 Q4 - Annual Report
2024-03-26 20:15
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41101 TLGY Acquisition Corporation Indicate by check mark whether the registrant has submitted electronically every I ...
TLGY Acquisition (TLGY) - 2023 Q3 - Quarterly Report
2023-11-14 13:05
Table of Contents | UNITED STATES | | --- | | SECURITIES AND EXCHANGE COMMISSION | | Washington, D.C. 20549 | | FORM 10-Q | | (Mark One) | | ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | For the quarterly period ended September 30, 2023 | | ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 | | For the transition period from to | | Commission file number: 001-41101 | | TLGY Acquisition Corporation | | (Exact name of regi ...