Recent Updates — TCGX

TCGX Acquisition Corp., a special purpose acquisition company, entered into a definitive business combination agreement with TriGemX Bio, Inc. The transaction involves the domestication of TCGX as a Delaware corporation and its merger with TriGemX, which will survive as a wholly-owned subsidiary before changing its name to TriGemX Bio, Inc. The deal values TriGemX at an agreed pre-money equity value of $361 million. Concurrently, TCGX secured a $160 million private investment in public equity (PIPE) financing, with investors purchasing 16 million shares at $10.00 per share. Total gross proceeds are expected to be approximately $246 million, assuming no redemptions from TCGX shareholders. The combined company expects a post-transaction equity value of roughly $600 million and anticipates closing in the first quarter of 2027, subject to shareholder approvals and customary conditions. TriGemX Bio is a biotechnology company focused on developing elismetrep, a potential first-in-class treatment for migraine.

TCGX Acquisition Corp. consummated its initial public offering on August 6, 2026, selling 8,625,000 Class A ordinary shares at $10.00 per share, including the full exercise of the underwriters' over-allotment option. The IPO generated gross proceeds of $86,250,000. Simultaneously, the company completed a private placement of 522,500 Class A ordinary shares at $10.00 per share to TCGX Sponsor, LLC and Jefferies LLC, raising an additional $5,225,000. Net proceeds of $86,250,000 were deposited into a trust account held by Odyssey Transfer and Trust Company for the benefit of public shareholders. The company has 24 months from closing to complete a business combination or redeem all public shares at approximately $10.00 per share. TCGX Acquisition Corp. is a blank check company organized in the Cayman Islands for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.