A Major Company Signed an Agreement Including the Purchase of 100 Million Dollar Tokens at a Discount with This Altcoin!

The Cayman Islands-based special purpose acquisition company (SPAC), TLGY, signed a non-binding letter of intent (LOI) to explore a strategic partnership focused on a validator acquisition with the Ethena Foundation and potential acquisition of up to 100 million dollars in ENA tokens.

According to the U.S. Securities and Exchange Commission’s (SEC) filing dated April 9, 2025, the proposed partnership summarizes a validator business acquisition plan designed to support the Ethena ecosystem, including TLGY’s upcoming Converge network. As part of the agreement, TLGY will have the right to acquire ENA tokens from Ethena at a mutually agreed discount based on the market price on the date the business combination is completed.

The proposed $100 million token acquisition is expected to be financed through a mix of cash held in TLGY's escrow account and equity provided through a special investment in public capital (PIPE) from Ethena. The exact financing structure and discount rate will be subject to further negotiations.

In addition, the agreement includes provisions that may allow TLGY to participate in future discounted token sales while awaiting mutual agreement. The anticipated partnership will last for five years from the signing of a definitive agreement.