| SPAC Sponsor [Table Text Block] |
Our Sponsor Our sponsor, TCGX Sponsor II, LLC, is a Delaware limited liability company and was formed to invest in us. Although our sponsor is permitted to undertake any activities permitted under the Delaware Limited Liability Company Act and other applicable law, our sponsor’s business is focused on investing in our company. The manager of our sponsor is Chen Yu, M.D., M.B.A., our Chief Executive Officer and a director. Dr. Yu controls the management of our sponsor, including the exercise of voting and investment discretion over the securities of our company held by our sponsor. As of the date of this prospectus, Fund III owns 100% of the economic rights attributable to the founder shares and private placement shares held by our sponsor. The following table sets forth the payments to be received by our sponsor and its affiliates from us prior to or in connection with the completion of our initial business combination and the securities issued and to be issued by us to our sponsor or its affiliates:
|
|
|
|
|
ENTITY |
|
AMOUNT OF COMPENSATION TO BE RECEIVED OR SECURITIES ISSUED OR TO BE ISSUED |
|
CONSIDERATION PAID OR TO BE PAID |
|
|
|
|
|
TCGX Sponsor II, LLC |
|
2,500,000 Class B ordinary shares, representing 20% of our issued and outstanding ordinary shares immediately following the completion of this offering (excluding the private placement shares). After taking into account the private placement shares to be issued to the sponsor, our sponsor will own an aggregate of 2,860,000 ordinary shares, or 22.1% of our issued and outstanding ordinary shares immediately following the completion of this offering. If we increase or decrease the size of this offering, we will effect a share capitalization or share repurchase or redemption or other appropriate mechanism, as applicable, with respect to our Class B ordinary shares immediately prior to the consummation of the offering in such amount as to maintain the ownership of founder shares by our initial shareholders at 20% of our issued and outstanding ordinary shares upon the consummation of this offering (excluding the private placement shares). The Class B ordinary shares will automatically convert into Class A ordinary shares immediately prior to, or concurrently with or immediately following the consummation of our business combination or at any time prior thereto at the option of the holder on a one-for-one basis subject to adjustment for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional Class A ordinary shares or equity-linked securities are issued or deemed issued in connection with our initial business combination, the number of Class A ordinary shares issuable upon conversion of all founder shares will equal, in the aggregate, 20% of the total number of Class A ordinary shares outstanding after such conversion (excluding the private placement shares and forward purchase shares, and after giving effect to any redemptions of Class A ordinary shares by public shareholders), including the total number of Class A ordinary shares issued, or deemed issued or issuable upon conversion or exercise of any equity-linked securities or rights issued or deemed issued, by the company in connection with or in relation to the consummation of the initial business combination, excluding any Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, or to be issued, to any seller in the initial business combination and any private placement shares issued to our sponsor, officers or directors upon conversion of working capital loans; provided that such conversion of founder shares will never occur on a less than one-for-one basis. As a result of such anti-dilution adjustments, the founder shares held by our sponsor may convert into Class A ordinary shares on a greater than one-for-one basis, which may result in material dilution from your purchase of our Class A ordinary shares. |
|
$25,000 (or approximately $0.01 per share) |
TCGX Sponsor II, LLC |
|
450,000 private placement shares |
|
$4,500,000 ($10.00 per share) |
TCGX Sponsor II, LLC, an affiliate thereof, or our officers and directors |
|
Repayment in cash or up to $3,000,000 in private placement shares of the post-business combination entity at a price of $10.00 per share at the option of the lender |
|
Loans to finance transaction costs in connection with an intended initial business combination |
|
|
|
|
|
|
|
AMOUNT OF COMPENSATION TO BE RECEIVED OR SECURITIES ISSUED OR TO BE ISSUED |
|
CONSIDERATION PAID OR TO BE PAID |
|
|
|
|
|
|
|
|
|
Up to $300,000 under an unsecured, non-interest bearing promissory note for offering-related and organizational expenses. This loan is due at the earlier of December 31, 2027 or the closing of this offering and is anticipated to be repaid upon completion of this offering out of the $1,000,000 of offering proceeds that has been allocated for the payment of offering expenses other than underwriting commissions |
TCGX Sponsor II, LLC Independent Directors |
|
Anti-dilution protection upon conversion into Class A ordinary shares at a greater than one-to-one ratio |
|
Issuance of the Class A ordinary shares issuable in connection with the conversion of the founder shares on a greater than one-to-one basis upon conversion |
TCGX Sponsor II, LLC, our officers or directors, or affiliates thereof |
|
|
|
Any out-of-pocket expenses related to identifying, investigating, negotiating and completing an initial business combination |
|
| Fiduciary Duties to Other Companies, SPAC Officers and Directors [Table Text Block] |
Below is a table summarizing the entities to which our officers and directors currently have fiduciary duties or contractual obligations:
|
|
|
|
|
|
|
INDIVIDUAL |
|
ENTITY |
|
ENTITY’S BUSINESS |
|
AFFILIATION |
Chen Yu, M.D., M.B.A. |
|
TCG Crossover Fund III, LP |
|
Investment Firm |
|
Co-Founder and Chief Investment Officer |
|
|
Pathalys Pharma, Inc. |
|
Biopharmaceutical |
|
Director |
|
|
Alkeus Pharmaceuticals, Inc. |
|
Biopharmaceutical |
|
Director |
|
|
Aviceda Therapeutics |
|
Biotechnology |
|
Director |
|
|
ADARx Pharmaceuticals, Inc. |
|
Biotechnology |
|
Director |
|
|
Corxel Pharmaceuticals Limited |
|
Biopharmaceutical |
|
Director |
|
|
TCGX Acquisition Corp. |
|
Special Purpose Acquisition Company |
|
Chief Executive Officer and Director |
|
|
TCGX Asia Life Sciences Partners I, Ltd. |
|
Investment Firm |
|
Director |
|
|
TCGX (Hong Kong) Limited |
|
Investment Firm |
|
Director |
Craig Skaling |
|
TCG Crossover Fund III, LP |
|
Investment Firm |
|
Managing Director and Head of Private Equity |
|
|
TCGX Acquisition Corp. |
|
Special Purpose Acquisition Company |
|
Chief Financial Officer and Director |
|
|
TCGX Asia Life Sciences Partners I, Ltd. |
|
Investment Firm |
|
Director |
|
|
TCGX (Hong Kong) Limited |
|
Investment Firm |
|
Director |
Joshua Cohen |
|
Amylyx Pharmaceuticals, Inc. |
|
Biopharmaceutical |
|
Co-Founder, Co-Chief Executive Officer and Director |
Mark McKenna |
|
Apogee Therapeutics, Inc. |
|
Biotechnology |
|
Chairman of the Board of Directors |
|
|
Mirador Therapeutics, Inc. |
|
Biotechnology |
|
Chief Executive Officer and Chair of the Board of Directors |
|
|
Spyre Therapeutics, Inc. |
|
Biotechnology |
|
Director |
|
|
New Amsterdam Pharma Company B.V. |
|
Biopharmaceutical |
|
Director |
|
|
McKenna Capital Partners |
|
Investment Firm |
|
Chief Investment Officer and Managing Director |
Michael Henderson, M.D. |
|
Apogee Therapeutics, Inc. |
|
Biotechnology |
|
Chief Executive Officer and Director |
|
|
Spyre Therapeutics, Inc. |
|
Biotechnology |
|
Director |
|