Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 182

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 182
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 A Ordinary Shares due to the fact that current prices may reflect a market assumption that the Business Combination will be completed; •the attention of its management will have been diverted to the Business Combination rather than its own operations and pursuit of other opportunities that could have been beneficial to Black Spade II; •diminished attractiveness of Black Spade II to potential partners for an alternative business combination if it is unable to complete the current Business Combination, and •limited period of time, if any, to complete an alternative initial business combination. Black Spade II may waive one or more of the conditions to the Business Combination. Black Spade II may agree to waive, in whole or in part, some of the conditions to Black Spade II’s obligations to complete the Business Combination, to the extent permitted by the Black Spade II Articles and applicable laws. For example, it is a condition to our obligations to close the Business Combination that certain of TGE’s representations and warranties are true and correct in all material respects as of the Closing Date. However, if the Black Spade II Board determines that it is in Black Spade II Shareholders’ best interest to waive any such breach, then the board may elect to waive that condition and close the Business Combination. Black Spade II is not able to waive the condition that Black Spade II Shareholders approve the Business Combination. Black Spade II anticipates that it will be treated as a PFIC, which could result in adverse U.S. federal income tax consequences to U.S. investors who exercise their right to redeem the BSII Public Shares. Black Spade II anticipates that it will be treated as a PFIC with respect to its current taxable year. In that case, the U.S. federal income tax treatment of any income or gain recognized by a U.S. Holder that exercises its redemption rights will depend on the application of the PFIC rules discussed below and whether the U.S. Holder has made a QEF Election (as defined below) or mark -to -marketelection with respect to its BSII Class A Ordinary Shares. For a more complete discussion of the U.S. federal income tax considerations of an exercise of redemption rights by a U.S. Holder, see the sections titled “Tax Considerations — U.S. Federal Income Tax Considerations for U.S. Holders — Effects to U.S. Holders of Exercising Redemption Rights” and “Tax Considerations — U.S. Federal Income Tax Considerations for U.S. Holders — PFIC Considerations.” U.S