secwatch.observer — SEC 8-K summary
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Issuer:     StableCoinX Inc. (USDE)
CIK:        0002080215
Form:       8-K
Filed at:   2026-07-02T01:57:43+00:00
Accession:  0001213900-26-074559
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 5.06, 5.02, 3.02, 3.03, 5.01, 5.03, 5.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

StablecoinX completes SPAC merger with TLGY, raises ~$893M PIPE, begins trading on Nasdaq
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- Closed business combination with TLGY Acquisition Corp. on June 25, 2026; now publicly traded on Nasdaq under USDE and USDEW.
- PIPE investment of ~$893M, including ~$349M in ENA tokens and ~$544M in cash, from institutional investors.
- Ethena OpCo contributed $60M of ENA tokens at 30% discount, now holds majority voting power.
- Post-closing shares: 27,187,129 total (24,029,375 Class A, 3,157,754 Class B); TLGY insiders locked up for 6 months.
- Company focuses on infrastructure software and services for the Ethena ecosystem, including validator operations and Stablecoin Harness middleware.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2080215/000121390026074559/0001213900-26-074559-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2080215/000121390026074559/ea0296210-8k_stablecoinx.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-074559

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer