TLGY Acquisition Corp. and StablecoinX Assets Inc. Announce Shareholder Approval of Business Combination

Rhea-AI Summary

TLGY Acquisition Corp. (OTC: TLGYF) and StablecoinX Assets Inc. announced that shareholders approved their previously announced business combination on March 10, 2026, with approximately 97% of votes in favor.

The parties plan to close the transaction as soon as possible, subject to satisfaction of remaining closing conditions. Upon closing the combined company will be named StablecoinX Inc. and its Class A common stock is expected to list on Nasdaq as "USDE".

Positive

• Shareholder approval achieved with approximately 97% votes in favor
• Planned Nasdaq listing under ticker USDE upon closing
• Combined company name confirmed as StablecoinX Inc.

Negative

• Closing remains subject to remaining conditions, creating potential timing risk
• Transaction completion timing is uncertain until all closing conditions are satisfied

Key Figures

Shareholder support: 97% of votes cast StablecoinX Class A shares: 68,287,395 shares Public Warrants: 11,500,000 warrants +5 more

8 metrics

Shareholder support 97% of votes cast Approval of Business Combination and related proposals

StablecoinX Class A shares 68,287,395 shares Covered by DEFM14A proxy/prospectus for Business Combination

Public Warrants 11,500,000 warrants Covered by DEFM14A proxy/prospectus

Initial PIPE subscriptions $363 million Described in DEFM14A for StablecoinX transaction

Additional PIPE subscriptions $530 million Described in DEFM14A for StablecoinX transaction

ENA Token contribution $60 million Contribution referenced in DEFM14A

Trust account deposit $24,494.35 Sponsor deposit to extend combination deadline (8-K on 2025-10-14)

Trust account proceeds $234.6 million Trust account size noted in Form S-4

Market Reality Check

Price: $16.50 Vol: Volume 100 is far below 2...

low vol

$16.50 Last Close

Volume Volume 100 is far below 20-day average of 1,304 (relative volume 0.08x). low

Technical Price $16.50 is trading above the 200-day MA at $12.69 ahead of deal closing.

Peers on Argus

TLGUF gained 10.07% while key SPAC peers were flat, with only AQUNU up 1.68%, in...

TLGUF gained 10.07% while key SPAC peers were flat, with only AQUNU up 1.68%, indicating a stock-specific move tied to the StablecoinX combination.

Market Pulse Summary

This announcement confirms that TLGY shareholders approved the StablecoinX business combination, wit...

Analysis

This announcement confirms that TLGY shareholders approved the StablecoinX business combination, with about 97% of votes cast in favor and plans to close once remaining conditions are met. Prior SEC filings outline sizable PIPE commitments, ENA token exposure, and trust proceeds of $234.6 million. Investors may focus on final closing conditions, Nasdaq listing under ticker “USDE,” and how the combined structure executes on its stated digital-asset strategy.

Key Terms

business combination, class a common stock, nasdaq, pipe, +3 more

7 terms

business combination financial

"their previously announced business combination (the “Business Combination”) was approved"

A business combination happens when two or more companies join together to operate as one, like two friends merging their teams into a single group. This is important because it can change how companies grow, compete, and make money, often making them bigger and more powerful in the market.

class a common stock financial

"its Class A common stock is expected to be listed on Nasdaq"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

nasdaq financial

"its Class A common stock is expected to be listed on Nasdaq under the ticker"

The Nasdaq is a stock exchange where many companies' shares are bought and sold, functioning much like a marketplace for investments. It matters to investors because it provides a platform to buy and sell ownership stakes in companies, helping them track the value of those companies and make informed decisions. As one of the largest and most technology-focused markets, it also reflects trends and developments in the business world.

pipe financial

"describes PIPE arrangements including subscription agreements of approximately"

A "pipe" is a planned series of financial transactions or projects that companies intend to carry out over time, often involving the raising of funds or development of new assets. It matters to investors because it provides a clear picture of a company's future growth plans and potential revenue, helping them assess the company's upcoming opportunities and overall stability. Think of it as a detailed roadmap guiding a company's future steps.

form s-4 regulatory

"StablecoinX has filed a Form S-4 registration statement with the SEC"

A Form S-4 is a legal document that companies file with the government to announce and explain a major business move, such as a merger or acquisition. It provides detailed information to help investors understand how the deal might affect the company's value and future prospects, similar to a detailed blueprint that clarifies the impact of a significant change.

registration statement regulatory

"StablecoinX has filed a Form S-4 registration statement with the SEC"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

public warrants financial

"covers up to 68,287,395 shares of StablecoinX Class A Common Stock and up to 11,500,000 Public Warrants"

Public warrants are tradable securities that give the holder the right to buy a company’s stock at a fixed price before a set expiration date. Like a coupon that lets you purchase shares later at a preset price, they matter to investors because using them can bring new cash into the company but also increase the total number of shares outstanding, which can dilute existing ownership and influence the stock’s price and potential gains.

AI-generated analysis. Not financial advice.

NEW YORK, NY, March 10, 2026 (GLOBE NEWSWIRE) -- TLGY Acquisition Corp. (“TLGY”) (OTC: TLGYF) and StablecoinX Assets Inc. (“SC Assets”) announced today that that their previously announced business combination (the “Business Combination”) was approved by TLGY’s shareholders during the extraordinary general meeting of its shareholders held today in which approximately 97% of the votes cast were voted in favor of the Business Combination and related proposals presented to shareholders. The parties plan to complete the Business Combination as soon as possible, subject to satisfaction of all other remaining closing conditions.

Upon the closing of the Business Combination, the combined company will be named StablecoinX Inc. (“StablecoinX”) and its Class A common stock is expected to be listed on Nasdaq under the ticker symbol “USDE”.

About TLGY Acquisition Corporation

TLGY Acquisition Corporation is a blank-check company sponsored by Carnegie Park Capital LLC, whose business purpose is to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. TLGY was formed to focus on growth companies through long-term, private equity-style value creation.

About StablecoinX Assets Inc.

SC Assets is a newly-formed company that is expected to operate an infrastructure software and services business, which may include running validators and related technical services, for the Ethena protocol. After the closing, StablecoinX is expected to adopt a multi-year treasury strategy to build a reserve of ENA, the Ethena protocol’s native token.

Additional Information and Where to Find It

In connection with the Business Combination, StablecoinX filed a registration statement on Form S-4 (the “Registration Statement”) with the SEC, which included a proxy statement of TLGY and a prospectus of StablecoinX. The Registration Statement was declared effective on February 17, 2026 and TLGY mailed the definitive proxy statement/prospectus relating to the Business Combination to its shareholders. The definitive proxy statement/prospectus contains important information about the Business Combination and related matters. TLGY’s shareholders and other interested persons may obtain copies of the Registration Statement, including the definitive proxy statement/prospectus, and other documents filed or that will be filed by TLGY and StablecoinX with the SEC, free of charge, through the website maintained by the SEC at www.sec.gov.

Forward-Looking Statements

This communication includes certain statements that may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements with respect to the proposed Business Combination include expectations, hopes, beliefs, intentions, plans, prospects, financial results or strategies regarding SC Assets, StablecoinX, TLGY and the proposed Business Combination, statements regarding the anticipated benefits and timing of the completion of the proposed Business Combination, the assets held by SC Assets and StablecoinX, the price and volatility of ENA, ENA’s growing prominence as an issuer of digital dollars on-chain, StablecoinX’s listing on any securities exchange, the macro, political and regulatory conditions surrounding ENA, the planned business strategy including StablecoinX’s ability to develop a corporate architecture capable of supporting its treasury initiatives and strategic stake in the Ethena Protocol, plans and use of proceeds, objectives of management for future operations of StablecoinX, the upside potential and opportunity for investors, StablecoinX’s plan for value creation and strategic advantages, market size and growth opportunities, regulatory conditions, technological and market trends, future financial condition and performance and expected financial impacts of the proposed Business Combination, the satisfaction of closing conditions to the proposed Business Combination and the level of redemptions of TLGY’s public shareholders, and StablecoinX’s expectations, intentions, strategies, assumptions or beliefs about future events, results of operations or performance or that do not solely relate to historical or current facts. Forward-looking statements are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including, but not limited to: the risk that the proposed Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of TLGY’s securities; the risk that the proposed Business Combination may not be completed by TLGY’s business combination deadline; the failure by the parties to satisfy the conditions to the consummation of the proposed Business Combination, including the listing of StablecoinX’s securities on a national securities exchange at closing; failure to realize the anticipated benefits of the proposed Business Combination; the level of redemptions by TLGY’s public shareholders, which may reduce the public float of, reduce the liquidity of the trading market of, and/or impact the ability of, the shares of Class A common stock of StablecoinX to be listed in connection with the proposed Business Combination; the insufficiency of the third-party fairness opinion for the board of directors of TLGY in determining whether or not to pursue the proposed Business Combination; the failure of StablecoinX to obtain or maintain the listing of its securities on any securities exchange after closing of the proposed Business Combination; risks associated with TLGY, SC Assets and StablecoinX’s ability to consummate the proposed Business Combination timely or at all, including in connection with potential regulatory delays or impediments, changes to or a failure to launch the proposed Converge network or changes in ENA prices or for other reasons; costs related to the proposed Business Combination and as a result of becoming a public company; changes in business, market, financial, political and regulatory conditions; risks relating to StablecoinX’s anticipated operations and business, including the volatile nature of the price of ENA and its ability to operate its business on the proposed Converge network; the risk that StablecoinX’s stock price will be highly correlated to the price of ENA and the price of ENA may decrease between the signing of the definitive documents for the proposed Business Combination and the closing of the proposed Business Combination or at any time after the closing of the proposed Business Combination; risks associated with TLGY, SC Assets and StablecoinX’s ability to consummate the proposed Business Combination timely or at all, including in connection with potential regulatory delays or impediments, changes in ENA prices or for other reasons; risks related to increased competition in the industries in which StablecoinX will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding ENA; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; risks that after consummation of the proposed Business Combination, StablecoinX experiences difficulties managing its growth and expanding operations; the risks that launching and growing StablecoinX’s ENA treasury advisory and services in digital marketing and strategy could be difficult; challenges in implementing StablecoinX’s business plan, due to operational challenges, significant competition and regulation; being considered to be a “shell company” by any stock exchange on which StablecoinX’s Class A Common Stock will be listed or by the SEC, which may impact StablecoinX’s ability to list its securities and restrict reliance on certain rules or forms in connection with the offering, sale or resale of securities; the outcome of any potential legal proceedings that may be instituted against StablecoinX, SC Assets, TLGY or others following announcement of the proposed Business Combination, and those risk factors discussed in documents that StablecoinX and/or TLGY has filed, or will file, with the SEC. The foregoing list of risk factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q that have been and/or will be filed by TLGY with the SEC from time to time, the Registration Statement and the definitive proxy statement/prospectus contained therein, and other documents that have been or will be filed by TLGY and StablecoinX from time to time with the SEC. These filings do or will identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. There may be additional risks that neither TLGY, SC Assets nor StablecoinX presently know or that TLGY, SC Assets and StablecoinX currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and each of TLGY, SC Assets, and StablecoinX assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither TLGY, SC Assets, nor StablecoinX gives any assurance that any of TLGY, SC Assets, or StablecoinX will achieve their respective expectations. The inclusion of any statement in this communication does not constitute an admission by TLGY, SC Assets or StablecoinX or any other person that the events or circumstances described in such statement are material.

No Offer or Solicitation

This communication does not constitute (i) a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Business Combination or (ii) an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase, any securities of TLGY, SC Assets, the combined company or any of their respective affiliates. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom, nor shall any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction be affected. No securities commission or securities regulatory authority in the United States or any other jurisdiction has in any way passed upon the merits of the Business Combination or the accuracy or adequacy of this communication.

Media Contacts

StablecoinX Assets Inc.
press@stablecoinx.com

TLGY Acquisition Corp.
media@tlgycpc.com

FAQ

What vote result did TLGY shareholders deliver for the TLGY-StablecoinX business combination on March 10, 2026?

Approximately 97% of votes cast were in favor of the business combination. According to TLGY, the vote took place at an extraordinary general meeting held March 10, 2026, approving the merger and related proposals.

When will the TLGY and StablecoinX business combination close and the new company list as USDE?

The parties plan to complete the combination as soon as possible, subject to closing conditions. According to TLGY, completion timing depends on satisfying all remaining closing conditions before listing on Nasdaq as USDE.

What will be the name and ticker of the combined company after the TLGY and StablecoinX deal?

The combined company will be named StablecoinX Inc. and its Class A common stock is expected to list as USDE on Nasdaq. According to TLGY, these changes will take effect upon closing.

Does the March 10, 2026 shareholder approval guarantee the TLGY-StablecoinX merger will close?

No; shareholder approval is a major step but not final — closing remains subject to conditions. According to TLGY, the merger will only close after all remaining closing conditions are satisfied.

How does the shareholder vote affect TLGY’s OTC listing and future Nasdaq listing under USDE?

The favorable vote allows the parties to proceed toward closing and a Nasdaq listing, but the actual listing awaits closing. According to TLGY, Nasdaq listing under USDE is expected once the transaction closes and conditions are met.