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TLGY Acquisition Corporation Unit (TLGYU0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing cash and investments held in the trust account of $43,642,805 as of September 30, 2024.
Total assets as of September 30, 2024, were $43,693,766, compared to $66,004,811 as of December 31, 2023.
Net income for the three months ended September 30, 2024, was $1,197,813, primarily due to interest income on funds held in the trust account and a gain in the change in fair value of derivative liabilities.
The company reported a working capital deficit of $4,127,121 as of September 30, 2024.
Cash used in operating activities for the nine months ended September 30, 2024, was $1,012,937.
The company had a net cash provided by investing activities of $24,400,460 for the nine months ended September 30, 2024.
Net cash used in financing activities for the nine months ended September 30, 2024, was $23,421,424.
TLGY Acquisition Corporation Unit is a blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
The company has not commenced any operations and will not generate any operating revenues until after the completion of an initial business combination.
The company has until April 16, 2025, to consummate an initial business combination, or it will cease operations, redeem public shares, and liquidate.
The filing details a change in control of the registrant, with CPC Sponsor Opportunities I, LP and CPC Sponsor Opportunities I (Parallel), LP acquiring significant control.
The company dismissed its previous auditor, Marcum Asia CPAs LLP, and engaged WithumSmith+Brown, PC as its new auditor.
The company identified a material weakness in its internal controls over financial reporting related to accounting for complex financial instruments.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the TLGY Acquisition Corporation Unit quarterly 10-Q report dated November 19, 2024. To report an error, please email earnings@qz.com.