Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 320

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 320
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 to waive, and effectively waives, in accordance with specific rules, the attribution of TLGY Ordinary Shares owned by family members, and such U.S. Holder does not constructively own any other TLGY Ordinary Shares (including any TLGY Ordinary Shares deemed to be constructively owned by such U.S. Holder as a result of owning any TLGY Warrants). The Redemption generally will not be essentially equivalent to a dividend with respect to a redeemed U.S. Holder if the Redemption results in a “meaningful reduction” of such U.S. Holder’s proportionate interest in TLGY. Whether the Redemption will result in a meaningful reduction in such U.S. Holder’s proportionate interest in TLGY will depend on the particular facts and circumstances. However, the IRS has indicated in a published ruling that even a small reduction in the proportionate interest of a small minority shareholder in a publicly held corporation who exercises no control over corporate affairs may constitute such a “meaningful reduction.” 140 Tax Consequences if the Redemption Is Treated as a Sale with Respect to the Redeemed U.S. Holder Subject to the PFIC rules discussed below under “— Passive Foreign Investment Company Rules”, if the Redemption is treated as a sale pursuant to the rules described above under “— In General” with respect to a U.S. Holder who exercises redemption rights and participates in the Redemption, then such redeemed U.S. Holder generally will recognize gain or loss equal to the difference between (1) the amount of cash received by such U.S. Holder in the Redemption with respect to such U.S. Holder’s redeemed Public Shares and (2) such U.S. Holder’s adjusted tax basis in the redeemed Public Shares. Such gain or loss generally will be capital gain or loss and will be long -termcapital gain or loss if such U.S. Holder’s holding period for the redeemed Public Shares is more than one year at the time of the Redemption. Long -termcapital gains recognized by non -corporateU.S. Holders generally are subject to U.S. federal income tax at a reduced rate of tax (compared to ordinary income). The deductibility of capital losses is subject to limitations. Tax Consequences if the Redemption Is Not Treated as a Sale with Respect to the Redeemed U.S. Holder If the Redemption is not treated as a sale pursuant to the rules described above under “— In General” with respect to a U.S. Holder who exercises redemption rights and participates in the Redemption, then the Redemption generally will be treated as a distribution by TLGY