Company: CGCT
Filing Date: 2025-03-21
Form Type: S-1/A
Source: 0001104659-25-026623
Chunk: 323

Company: Cartesian Growth Corp III
Filing Date: 2025-03-21
Form: S-1/A
Chunk 323
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 on any gain attributable to a sale or other disposition of our Class A ordinary shares or warrants unless such
gain is effectively connected with its conduct of a trade or business in the United States (and, if required by an applicable income
tax treaty, is attributable to a permanent establishment or fixed base that such Non U.S. Holder maintains in the United States)
as discussed below.

Dividends (including, as described under “— U.S. Holders — Possible Constructive Distributions” above, constructive distributions treated as dividends) and gains that are “effectively connected”
with the Non-U.S. Holder’s conduct of a trade or business in the United States (and, if required by an applicable income
tax treaty, are attributable to a permanent establishment or fixed base in the United States) generally will be subject to United States
federal income tax at the same regular United States federal income tax rates applicable to a comparable U.S. Holder and, in
the case of a Non-U.S. Holder that is a corporation for United States federal income tax purposes, also may be subject to an
additional branch profits tax at a 30% rate or a lower applicable tax treaty rate.

The United States federal income tax treatment
of a Non-U.S. Holder’s receipt of any Class A ordinary share upon the exercise of a warrant or the lapse of a warrant
held by a Non-U.S. Holder generally will correspond to the United States federal income tax treatment of the receipt of a Class A
ordinary share on the exercise of a warrant or the lapse of a warrant held by a U.S. Holder, as described under “— U.S. Holders — Exercise, Lapse or Redemption of a Warrant,” above, although to the extent a cashless exercise results in a taxable exchange, the consequences
would be similar to those described in the preceding paragraphs above for a Non-U.S. Holder’s gain on the sale or other disposition
of our Class A ordinary shares and warrants.

The characterization for United States federal
income tax purposes of the redemption of the Non-U.S. Holder’s Class A ordinary shares or warrants generally will correspond
to the United States federal income tax treatment of such a redemption of a U.S. Holder’s Class A ordinary shares
or warrants, as described under “— U.S. Holders — Redemption of Class A Ordinary Shares”
or “— U.S. Holders — Exercise, Lapse or Redemption of a Warrant” above, as applicable,
and the consequences of the redemption to the