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SPAC · Merger completed

Tlgy Acquisition Corp

Business combination with StablecoinX Assets Inc.

Tlgy Acquisition Corp is a blank-check company (SPAC) that raised $200M in its initial public offering on Dec 3, 2021. It completed its business combination with StablecoinX Assets Inc. on Jun 25, 2026; the combined company is StablecoinX Inc. (USDE). China Grand Automotive Services led the IPO, with UniTrust and Li Ning Company. Cleary Gottlieb advised the SPAC and Greenberg Traurig advised the underwriters on the IPO.

StablecoinX Assets Inc. is a newly formed validator and infrastructure business. It is expected to operate infrastructure and staking services, running validators and related technical services for the Ethena protocol.

Status
Merger completed
IPO date
Dec 3, 2021
IPO size
$200M
Target
StablecoinX Assets Inc. (SC Assets)
Announced
Sep 8, 2025
Closed
Jun 25, 2026
Combined company
StablecoinX Inc. (USDE)
IPO underwriters
China Grand Automotive Services, UniTrust, Li Ning Company, Daphne International Holdings, Vice Chairman of Li Ning Company and Table of Contents International Holdings
SPAC counsel (IPO)
Cleary Gottlieb and Maples and Calder
Underwriters' counsel (IPO)
Greenberg Traurig

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