Company: MCGAU
Filing Date: 2025-04-16
Form Type: S-1
Source: 0001213900-25-032483
Chunk: 295

Company: Yorkville Acquisition Corp.
Filing Date: 2025-04-16
Form: S-1
Chunk 295
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 the QEF election, will continue to apply with respect to such newly acquired ordinary shares (which generally will be deemed to have a holding period for purposes of the PFIC rules that includes the period the U.S. holder held the warrants), unless the U.S. holder makes a purging election under the PFIC rules. One type of purging election creates a deemed sale of such shares at their fair market value. The gain recognized on account of such purging election will be subject to the special tax and interest charge rules treating the gain as an excess distribution, as described above. Under another type of purging election, an electing U.S. holder will be treated as having received as an excess distribution its ratable share of our earnings and profits determined for U.S. federal income tax purposes. In order for a U.S. holder to make the second election, we must also be a “controlled foreign corporation” as defined in the Code, and there are no assurances that we will so qualify. As a result of either purging election, the U.S. holder will have a new basis and holding period in the ordinary shares acquired upon the exercise of the warrants for purposes of the PFIC rules. U.S. holders are urged to consult their tax advisors as to the applicability of the rules governing purging elections to their particular circumstances. The QEF election is made on a shareholder -by -shareholderbasis and, once made, can be revoked only with the consent of the IRS. A U.S. holder generally makes a QEF election by attaching a completed IRS Form 8621 (Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund), including the information provided in a PFIC annual information statement, to a timely filed U.S. federal income tax return for the tax year to which the election relates. Retroactive QEF elections generally may be made only by filing a protective statement with such return and if certain other conditions are met or with the consent of the IRS. U.S. holders should consult their own tax advisors regarding the availability and tax consequences of a retroactive QEF election under their particular circumstances. In order to comply with the requirements of a QEF election, a U.S. holder must receive a PFIC annual information statement from us. Our U.S. counsel expresses no opinion with respect to our PFIC status for any taxable year and we have not made, nor do we intend to make, the analysis necessary to determine whether or not we are currently a PFIC or whether