---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-085171"
form_type: "8-K"
ticker: "TLGYF"
cik: "0001879814"
company_name: "TLGY ACQUISITION CORP"
filed_at: "2025-09-08T23:59:59+00:00"
generated_at: "2026-05-17T07:42:21.947193+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# TLGY and StablecoinX secure additional $530M PIPE, total $890M, for ENA treasury strategy

## Summary
- Additional $530M PIPE priced at $10/share brings total committed PIPE to $890M; combined company to hold over 3B ENA tokens at close.
- New investors include YZi Labs, Brevan Howard, Susquehanna Crypto, IMC; returning investors Dragonfly, ParaFi, Maven11, Kingsway, Mirana, Haun.
- Ethena Foundation subsidiary to launch $310M token buyback, adding to initial $260M for total $570M in announced buybacks.
- SC Assets forms Strategic Advisory Board chaired by Rob Hadick (Dragonfly) to guide multi-year ENA treasury strategy and ecosystem alignment.
- USDe circulation has more than doubled to over $12B since initial PIPE announcement in July 2025.

## SEC filing metadata
- accession: 0001213900-25-085171
- form_type: 8-K
- ticker: TLGYF
- cik: 0001879814
- company_name: TLGY ACQUISITION CORP
- filed_at: 2025-09-08T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1879814/000121390025085171/0001213900-25-085171-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1879814/000121390025085171/ea0255459-8k425_tlgyacq.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-085171
- JSON: https://secwatch.observer/filing/0001213900-25-085171.json
- Plain text: https://secwatch.observer/filing/0001213900-25-085171.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.