Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 328

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 328
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in each case, subject to the PFIC rules discussed above under “— Passive Foreign Investment Company Rules” in the case of a U.S. Holder who exchanges Public Shares for shares of StablecoinX Common Stock pursuant to the SPAC Merger): i.A U.S. Holder that holds no Public Warrants and that exchanges Public Shares or shares of SC Assets Common Stock solely for shares of StablecoinX Common Stock pursuant to the Mergers generally will recognize gain or loss equal to the difference between (1) the fair market value (determined as of the Closing Date) of the shares of StablecoinX Common Stock received by such U.S. Holder and (2) such U.S. Holder’s adjusted tax basis in the Public Shares or shares of SC Assets Common Stock, as applicable, surrendered in exchange therefor in the Mergers. 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 such Public Shares or shares of SC Assets Common Stock, as applicable, is more than one year at Closing. 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. ii.Such U.S. Holder’s aggregate tax basis in the shares of StablecoinX Common Stock received in the Mergers generally will equal the fair market value (determined as of the Closing Date) of such shares of StablecoinX Common Stock. 144 iii.Such U.S. holder’s holding period in the shares of StablecoinX Common Stock received in the Mergers generally will begin on the day after the Closing Date. Tax Consequences of the SPAC Merger to U.S. Holders Who Hold Only Public Warrants Whether or not the Intended Tax Treatment applies (and, in each case, subject to the PFIC rules discussed above under “ — Passive Foreign Investment Company Rules”): i.A U.S. Holder that holds no Public Shares and whose Public Warrants automatically convert into StablecoinX Warrants pursuant to the SPAC Merger generally will recognize gain or loss equal to the difference between (1) the fair market value (determined as of the Closing Date) of the StablecoinX Warrants received by such U.S. Holder and (2) such U.S. Holder’s adjusted tax basis in the Public Warrants surrendered in exchange