TLGY signs LOI to acquire validator business for Ethena; $100M ENA token deal

TLGY ACQUISITION CORP

Non-binding LOI with Ethena Foundation to acquire a validator business for proof-of-stake services on the Converge network.
TLGY gains right to purchase up to $100M of ENA tokens at a discount; funded by trust cash and PIPE from Ethena.
Sponsors to forfeit majority of founder shares for earnout shares tied to long-term performance, reducing dilution.
Proposed five-year partnership term; no assurance a definitive agreement will be reached.

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