NEW YORK, September 8, 2025: Morgan Lewis advised Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, the financial advisor and exclusive placement, in connection with an additional $530 million private placement by TLGY Acquisition Corp. (OTC: TLGYF) (TLGY) and StablecoinX Assets Inc. (SC Assets). This offering follows the previous announcement of the proposed business combination and $360 million private placement financing, for a total of $890 million in private placement financing commitments to date. Upon the closing of the proposed business combination, the combined company will be named StablecoinX Inc. (StablecoinX).
The additional private placement was priced at $10 per share, and, as in the initial private placement, a portion of the net cash proceeds are expected to be used to acquire discounted locked ENA from a subsidiary of the Ethena Foundation as part of a multi-year collaboration agreement between TLGY and the Ethena Foundation, with the tokens held in custody for the benefit of the cash investors until the transaction closes.
The Morgan Lewis team advising the placement agents includes partners Rahul K. Patel and Kevin S. Shmelzer and associates Maria F. Natera and Dejonay C. Lawani.