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TLGY Acquisition Corp
TLGY Acquisition Corp. is a Special Purpose Acquisition Company listed on the NASDAQ under the ticker symbol TLGYU. It was formed to facilitate a merger.
TLGY Acquisition Corp
TLGY Acquisition Corp. is a Special Purpose Acquisition Company listed on the NASDAQ under the ticker symbol TLGYU. It was formed to facilitate a merger.
General information
Firm type
Asset Manager
Year founded
2021
Location
Region
North America
Country
United States
City
Menlo Park
Corporate office
Menlo Park, CA, United States
Principals
Jin Duan
CEO & Director
Calvin Choi
Chairman
Sector focus
Frequently asked questions
What happened to TLGY Acquisition Corp after its IPO?
TLGY did not complete a business combination within its permitted timeframe. The SPAC extended its deadline by one month in February 2023 but ultimately announced in December 2023 that it would dissolve and redeem all outstanding public shares, returning the trust proceeds to investors.
What kind of companies did TLGY target for acquisition?
TLGY's mandate centered on global mobility and sustainable energy, including electrification and related industrial technology. It also included biopharma as a secondary focus. The management team concentrated on Asia-based middle-market companies with existing operations in China, Hong Kong, and Southeast Asia.
Who ran investment decisions at TLGY?
Jin Duan led the firm as CEO, CFO, and Director. Calvin Choi served as Chairman of the Board. The sponsor entity, TLGY Sponsors LLC, held the founder shares and drove the target search during the SPAC's active period.
Is TLGY still an active vehicle today?
No. After failing to secure a merger partner within its extended deadline, TLGY Acquisition Corp dissolved in December 2023. The trust account was liquidated and distributed to public shareholders, and the sponsor's founder shares were forfeited.
How much capital did TLGY raise in its IPO?
The SPAC raised $230 million in its December 2021 initial public offering on the Nasdaq. This capital was placed in a trust account pending a business combination, which was required to be completed within a defined window — ultimately leading to liquidation when no deal was finalized.
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