TLGY ACQUISITION CORPORATION | 10-Q: FY2025 Q3 Revenue: USD 0

Revenue: As of FY2025 Q3, the actual value is USD 0.

EPS: As of FY2025 Q3, the actual value is USD -3.73.

EBIT: As of FY2025 Q3, the actual value is USD -717.8 K.

Segment Revenue

• The company has not commenced any operations and has not generated any operating revenues as of September 30, 2025. The company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering.

Operational Metrics

• Net Income (Loss): For the three months ended September 30, 2025, the company reported a net loss of - $22,167,803, primarily due to general and administrative costs of $653,504 and a change in the fair value of warrant liabilities of - $21,621,525, partially offset by interest income of $64,292 and forgiveness of debt of $42,934.
• Net Income (Loss): For the nine months ended September 30, 2025, the company reported a net loss of - $27,193,664, primarily due to a loss in fair value of derivative liabilities of - $26,853,934 and general and administrative expenses of $1,131,697, partially offset by interest income of $664,199 and forgiveness of debt of $127,768.

Cash Flow

• Net Cash Used in Operating Activities: For the nine months ended September 30, 2025, net cash used in operating activities was - $1,048,882.
• Net Cash Provided by Investing Activities: For the nine months ended September 30, 2025, net cash provided by investing activities was $38,786,428.
• Net Cash Used in Financing Activities: For the nine months ended September 30, 2025, net cash used in financing activities was - $37,393,394.

Unique Metrics

• Derivative Warrant Liabilities: As of September 30, 2025, the derivative warrant liability was $27,311,400, compared to $457,466 as of December 31, 2024.

Future Outlook and Strategy

• Core Business Focus: The company intends to effectuate its initial business combination using cash from the proceeds of its IPO and private placement, shares issued to the owners of the target, debt issued to bank or other lenders or the owners of the target, or a combination of the foregoing.
• Non-Core Business: The company entered into a business combination agreement with StablecoinX Assets Inc. and related entities, which will result in the company and StablecoinX Assets Inc. becoming wholly owned subsidiaries of Pubco, a publicly traded company.
• Priority: The company has determined that if it is unable to raise additional funds or complete an initial business combination by November 16, 2025, it will cease all operations, redeem the public shares, and liquidate and dissolve.