In a recent filing with the Securities and Exchange Commission, TLGY Acquisition Corp (NASDAQ:TLGY), a company specializing in plastics and synthetic resins, announced an extension for the completion of its initial business combination. The new deadline is set for October 16, 2024, as the company's sponsor, or its affiliates or designees, have contributed an additional $60,000 to the trust account to facilitate this extension.
The extension deposit was made on Monday, September 16, 2024, the same day the company notified Continental Stock Transfer & Trust Company of its decision to extend the termination date from September 17, 2024, to the new date in October. This move gives TLGY Acquisition Corp an additional month to finalize its business combination plans.
TLGY Acquisition Corp is an emerging growth company incorporated in the Cayman Islands with business addresses in both Grand Cayman and Hong Kong SAR. It is listed on The Nasdaq Stock Market LLC under three trading symbols: TLGYU for units consisting of one Class A ordinary share and one-half of one redeemable warrant, TLGY for Class A ordinary shares, and TLGYW for redeemable warrants.
In other recent news, TLGY Acquisition Corp announced significant developments. The company extended its merger deadline to September 16, 2024, depositing an additional $60,000 into its trust account to facilitate this extension. Simultaneously, TLGY Acquisition Corp entered into material definitive agreements with CPC Sponsor Opportunities I, LP and CPC Sponsor Opportunities I (Parallel), LP.
Through these agreements, the company issued unsecured promissory notes to the lenders, allowing it to borrow substantial amounts. The lenders also have an option to convert the unpaid principal balance of the notes into warrants for purchasing Class A common stock.
In a parallel development, TLGY Acquisition Corp announced a change in its independent registered public accounting firm. The company dismissed Marcum Asia CPAs LLP and engaged WithumSmith+Brown, PC as its new accountant. These are the recent developments from TLGY Acquisition Corp, reflecting strategic decisions and changes in its financial structure and auditing procedures.
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