In a recent development, TLGY Acquisition Corp (NASDAQ:TLGY) has announced an extension for completing its initial business combination. The new deadline is now set for December 16, 2024. This extension was activated following a deposit of $60,000 by the company's sponsor into the trust account, as stated in the company's latest 8-K filing with the Securities and Exchange Commission.
The deposit, referred to as the Extension Deposit, was made on Friday, ensuring that TLGY Acquisition Corp has an additional month from the original termination date of November 17, 2024, to finalize its business combination. The action taken by TLGY's sponsor or its affiliates signifies a commitment to giving the company more time to secure a suitable merger that aligns with its strategic goals.
TLGY Acquisition Corp, a publicly traded special purpose acquisition company, is based in Wilmington, DE, and is listed on The Nasdaq Stock Market LLC under the ticker symbols TLGYU for its units, TLGY for its Class A ordinary shares, and TLGYW for its redeemable warrants. Each whole warrant is exercisable for one Class A ordinary share at an exercise price of $11.50 per share.
The company's focus is on industries related to plastics, materials, synthetic resins, and nonvulcanized elastomers, operating under the SIC code 2821. As an emerging growth company, TLGY Acquisition Corp is subject to certain reporting and regulatory standards and has the option to comply with new or revised financial accounting standards under an extended transition period.
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