Verde Bioresins, Inc. entered into a definitive business combination agreement to acquire TLGY Acquisition Corporation (NasdaqGM:TLGY) from TLGY Sponsors LLC and other for approximately $780 million in a reverse merger transaction on June 21, 2023. Upon closing of the business combination, the combined company will change its name to ?Verde Bioresins, Corp.? and is expected to list its common stock on Nasdaq under the new ticker symbol ?VRDE.?

The transaction subject to regulatory approvals, the registration statement shall have become effective, TLGY shall have at least $5,000,001 of net tangible assets, TLGY and Verde shareholder approvals, listing of shares of the resulting issuer on NASDAQ, execution of the ancillary agreements and resignation of TLGY officers and directors. The boards of directors of both TLGY and Verde have approved the proposed business combination. The transaction is expected to be completed in the second half of 2023.

Denise Shiu and Adam Brenneman of Cleary Gottlieb Steen & Hamilton LLP are serving as legal advisor to TLGY and TLGY Sponsors. Marcum Bernstein & Pinchuk LLP is serving as auditor to TLGY Acquisition Corporation. Daniel Zimmermann, Michael E. Gilligan and Glenn R. Pollner of Wilmer Cutler Pickering Hale and Dorr LLP are serving as legal advisor and EisnerAmper LLP is serving as auditor to Verde. Gateway Group is serving as Investor Relations and Public Relations for the proposed business combination. Continental Stock Transfer & Trust Company acted as a Transfer Agent/Registrar to TLGY Acquisition Corporation.