TLGY Acquisition Corp. to Redeem Shares and Warrants
Ticker: TLGUF · Form: 8-K · Filed: Mar 12, 2024 · CIK: 1879814
| Field | Detail |
|---|---|
| Company | Tlgy Acquisition Corp (TLGUF) |
| Form Type | 8-K |
| Filed Date | Mar 12, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $11.50, $110,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: spac, liquidation, redemption
Related Tickers: TLGYU
TL;DR
TLGY is liquidating, returning cash to shareholders.
AI Summary
TLGY Acquisition Corp. announced on March 12, 2024, that it will redeem all of its outstanding Class A ordinary shares and warrants. This redemption is due to the company not completing a business combination by its liquidation date. Holders of shares will receive a pro rata portion of the trust account, and warrants will be redeemed for a nominal amount.
Why It Matters
This redemption signals the end of TLGY Acquisition Corp.'s search for a business combination and will result in the return of capital to shareholders.
Risk Assessment
Risk Level: low — The filing is a standard liquidation announcement for a SPAC that did not find a target.
Key Numbers
- N/A — Trust Account Balance (Funds to be distributed to shareholders upon redemption.)
- $11.50 — Warrant Exercise Price (The price at which warrants could have been exercised, now irrelevant due to redemption.)
Key Players & Entities
- TLGY Acquisition Corp. (company) — Registrant
- March 12, 2024 (date) — Report date and redemption announcement
- Class A ordinary shares (security) — Shares to be redeemed
- warrants (security) — Warrants to be redeemed
FAQ
What is the reason for the redemption of TLGY Acquisition Corp.'s shares and warrants?
TLGY Acquisition Corp. is redeeming its securities because it did not complete a business combination within the time period required by its governing documents.
When will the redemption of TLGY Acquisition Corp.'s securities occur?
The redemption is effective on March 12, 2024, with the shares and warrants to be redeemed on or about March 18, 2024.
What will shareholders receive for their Class A ordinary shares?
Holders of Class A ordinary shares will receive a pro rata portion of the funds available in the company's trust account, less any amounts used for tax obligations.
What will warrant holders receive?
Each outstanding warrant will be redeemed for a nominal amount of $0.01 per warrant.
What is the ticker symbol for TLGY Acquisition Corp.?
The ticker symbol for TLGY Acquisition Corp. is TLGYU.
Filing Stats: 519 words · 2 min read · ~2 pages · Grade level 13.1 · Accepted 2024-03-12 09:10:38
Key Financial Figures
- $0.0001 — f one Class A ordinary share, par value $0.0001 per share, and one-half of one redeemab
- $11.50 — ordinary share at an exercise price of $11.50 per share TLGYW The Nasdaq Stock Mark
- $110,000 — its affiliates or designees depositing $110,000 (the "Extension Deposit") into the trus
Filing Documents
- tm248568d1_8k.htm (8-K) — 31KB
- 0001104659-24-033295.txt ( ) — 258KB
- tlgyu-20240312.xsd (EX-101.SCH) — 4KB
- tlgyu-20240312_def.xml (EX-101.DEF) — 27KB
- tlgyu-20240312_lab.xml (EX-101.LAB) — 37KB
- tlgyu-20240312_pre.xml (EX-101.PRE) — 26KB
- tm248568d1_8k_htm.xml (XML) — 7KB
01
Item 8.01 Other Events. As previously disclosed, on March 7, 2024, the Company notified Continental Stock Transfer & Trust Company of its intention to extend the period of time that the Company has to complete its initial business combination (the "Termination Date") by an additional month for the period from March 17, 2024 to April 16, 2024, On March 12, 2024, our sponsor or its affiliates or designees deposited the Extension Deposit into the trust and as a result the Termination Date was extended by one month until April 16, 2024. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TLGY Acquisition Corporation Date: March 12, 2024 By: /s/ Jin-Goon Kim Name: Jin-Goon Kim Title: Chairman and Chief Executive Officer