TLGY Acquisition Corp. Undergoes Major Restructuring and Leadership Shake-Up

TLGY Acquisition Corp. Class A (TLGY) has provided an update.

TLGY Acquisition Corporation recently underwent significant corporate restructuring and leadership changes. On June 20, 2024, agreements were made to facilitate a Securities Transfer Transaction, including a Letter Agreement Joinder and a Registration Rights Agreement Joinder. Additionally, an indemnification agreement was established to protect involved parties from liability claims. The company also saw the departure of Jin-Goon Kim as CEO and interim CFO, while welcoming new executives Vikas Desai as CEO and Merrick Friedman as CFO, alongside new independent directors Enrique Klix and Young Cho. These management shifts come amidst the extension of the company’s deadline to complete its initial business combination by one month, backed by a $60,000 deposit into its trust account.

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