Company: TGE
Filing Date: 2025-05-06
Form Type: F-4/A
Source: 0001213900-25-040058
Chunk: 199

Company: Generation Essentials Group
Filing Date: 2025-05-06
Form: F-4/A
Chunk 199
---
 a trade or business) and net gains from the disposition of assets giving rise to passive income) or (2) at least 50% of the value of its assets (based on an average of the quarterly values of the assets) during such year is attributable to assets that produce or are held for the production of passive income. Based on the current and anticipated value of the assets and the composition of the income and assets, including goodwill and other unbooked intangibles, of TGE and its subsidiaries, TGE does not currently expect to be a PFIC for the taxable year that includes the Business Combination or foreseeable future taxable years.However, this conclusion is a factual determination that must be made annually at the close of each taxable year on the basis of the composition of the income and assets of TGE and its subsidiaries and, thus, is subject to change. Accordingly, there can be no assurance that TGE or any of its subsidiaries will not be a PFIC for any taxable year. 117 For a more detailed discussion of the PFIC rules and the risks and adverse tax consequences of PFIC classification to U.S. Holders of TGE Class A Ordinary Shares or TGE Warrants, see “Tax Considerations — U.S. Federal Income Tax Considerations for U.S. Holders — PFIC Considerations.” Black Spade II’s warrant agreement, which is being assigned to TGE pursuant to the Assignment, Assumption and Amendment Agreement upon the Closing of the Business Combination and under which one BSII Warrant will become one TGE Warrant upon such Closing, designates the courts of the State of New York or the United States District Court for the Southern District of New York as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by holders of the warrants, which could limit the ability of warrant holders to obtain a favorable judicial forum for disputes with TGE in connection with such warrants. Under the terms of the Assignment, Assumption and Amendment Agreement, Black Spade II warrant agreement is being assigned by Black Spade II to TGE at the Closing of the Business Combination. In connection with this assignment, each BSII Warrant will convert into an TGE Warrant at such time and all of the terms of the Black Spade II warrant agreement not amended by the Assignment, Assumption and Amendment Agreement will remain in effect and applicable to each warrant holder and to TGE after such Closing. The Black Spade II warrant agreement provides that, subject to applicable law, (i) any