Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 343

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 343
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 EACH HOLDER IS URGED TO CONSULT THE HOLDER’S OWN TAX ADVISOR REGARDING THE SPECIFIC TAX CONSEQUENCES TO THE HOLDER OF THE REDEMPTION, THE MERGERS, AND THE OWNERSHIP AND DISPOSITION OF SHARES OF STABLECOINX COMMON STOCK AFTER THE MERGERS, IN EACH CASE CONSIDERING THE HOLDER’S PARTICULAR CIRCUMSTANCES, INCLUDING THE U.S. FEDERAL, STATE, LOCAL AND NON -U .S. INCOME AND OTHER TAX CONSEQUENCES THEREOF. The Redemption Tax Consequences to U.S. Holders of Exercising Redemption Rights and Participating in the Redemption In General Subject to the PFIC rules discussed below under “— Passive Foreign Investment Company Rules”, the U.S. federal income tax consequences to a U.S. Holder of Public Shares that exercises its redemption rights and participates in the Redemption will depend on whether the Redemption qualifies as a sale under Section 302 of the Code with respect to such U.S. Holder. Whether the Redemption qualifies as a sale under Section 302 of the Code with respect to a redeemed U.S. Holder will depend largely on the total number of TLGY Ordinary Shares treated as held by such U.S. Holder before and after the Redemption. The Redemption generally will be treated as a sale or exchange of the Public Shares (rather than as a distribution) with respect to a redeemed U.S. Holder if the Redemption (1) is “substantially disproportionate” with respect to such U.S. Holder, (2) results in a “complete termination” of such U.S. Holder’s interest in TLGY or (3) is “not essentially equivalent to a dividend” with respect to such U.S. Holder. These tests are explained more fully below. In determining whether any of the foregoing tests are satisfied, a redeemed U.S. Holder must take into account not only the TLGY Ordinary Shares actually owned by such U.S. Holder, but also any TLGY Ordinary Shares that are deemed to be constructively owned by such U.S. Holder. A U.S. Holder may be deemed to constructively own, in addition to TLGY Ordinary Shares owned directly, shares owned by related individuals and entities in which such U.S. Holder has an interest or that have an interest in such U.S. Holder, as well as any TLGY Ordinary Shares that such U.S. Holder has a right to acquire by exercise of an option, which generally would include any TLGY Ordinary Shares which could be acquired pursuant to the exercise