Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 323

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 323
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GY Warrants (including Public Warrants); ii.the amount allocated to such U.S. Holder’s taxable year in which such U.S. Holder recognized the gain or received the excess distribution, or to the period in such U.S. Holder’s holding period before the first day of TLGY’s first taxable year in which TLGY was a PFIC, will be taxed as ordinary income; iii.the amount allocated to other taxable years (or portions thereof) of such U.S. Holder and included in such U.S. Holder’s holding period will be taxed at the highest tax rate in effect for that year and applicable to such U.S. Holder; and iv.the interest charge generally applicable to underpayments of tax will be imposed in respect of the tax attributable to each such other taxable year of such U.S. Holder. In general, if TLGY is determined to be a PFIC, a U.S. Holder may avoid the special tax and interest charge rules described above in respect of TLGY Ordinary Shares (including Public Shares), but not TLGY Warrants (including Public Warrants), if such U.S. Holder has made, (1) for TLGY’s first taxable year as a PFIC in which the U.S. Holder held (or was deemed to hold) TLGY Ordinary Shares, a timely and valid QEF election (if eligible to do so), to include in income such U.S. Holder’s pro rata share of TLGY’s net capital gains (as long -termcapital gain) and other earnings and profits (as ordinary income), on a current basis, in each case whether or not distributed, in the taxable year of the U.S. Holder in which or with which TLGY’s taxable year ends, or (2) if in a later taxable year, such QEF election along with a “purging election.” One type of a purging election generally creates a deemed sale of the U.S. Holder’s TLGY Ordinary Shares at their then fair market value and requires the U.S. Holder to recognize gain pursuant to the purging election subject to the special PFIC tax and interest charge rules described above. Other types of purging elections may be available depending on a U.S. Holder’s particular circumstances (including a potential “deemed dividend” purging election that may be available if TLGY is a “controlled foreign corporation” for U.S. federal income tax purposes). U.S. Holders are urged to consult their tax advisors as to the application of the rules governing purging elections to their particular circumstances