Company: UAC
Filing Date: 2025-12-03
Form Type: S-1
Source: 0001493152-25-025837
Chunk: 256

Company: United Acquisition Corp. I
Filing Date: 2025-12-03
Form: S-1
Chunk 256
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 There can be no assurance that we will have timely knowledge of the PFIC status of any of our subsidiaries. In addition, we may not hold a controlling interest in any such lower-tier PFIC and thus there can be no assurance we will be able to cause the lower-tier PFIC to provide such required information. A mark-to-market election generally would not be available with respect to such lower-tier PFIC. U.S. Holders are urged to consult their tax advisors regarding the tax issues raised by lower-tier PFICs.

A U.S. Holder that owns (or is deemed to own) shares in a PFIC during any taxable year of the U.S. Holder, may have to file an IRS Form 8621 (whether or not a QEF or mark-to-market election is made) and such other information as may be required by the U.S. Treasury Department. Failure to do so, if required, will extend the statute of limitations until such required information is furnished to the IRS.

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It is not entirely clear whether or how various aspects of the PFIC rules apply to the warrants. In particular, certain proposed regulations that were issued in 1992 and that are not currently in effect (but that would have a retroactive effective date if finalized) could be interpreted as treating the warrants as stock for purposes of these rules. Accordingly, it is possible that the proposed regulations could be finalized in a manner that would apply to the warrants. U.S. Holders should therefore consult their tax advisors as to whether the warrants are subject to the PFIC rules.

A U.S. Holder may not make a QEF election or mark-to-market election with respect to its warrants. As a result, if the PFIC rules apply to the warrants and a U.S. Holder sells or otherwise disposes of such warrants (other than upon exercise of such warrants), including possibly in an exchange or deemed exchange of warrants in connection with the business combination, and we were a PFIC at any time during the U.S. Holder’s holding period of such warrants, any gain recognized generally will be treated as an excess distribution, taxed as described above.

In addition, subject to the purging election discussion above, if the PFIC rules apply to the warrants, the holding period of Class A ordinary shares acquired upon exercise of the warrants would, for purposes of the PFIC rules described above, include the period in which the warrants were held. However, if a U.S. Holder that exercises such warrants properly makes and maintains a QEF election