Company: FVN
Filing Date: 2025-05-30
Form Type: S-4/A
Source: 0001829126-25-004067
Chunk: 241

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-30
Form: S-4/A
Chunk 241
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 PFIC for either of the first two taxable years following the start-up year, and (3) the corporation is not in fact a PFIC for either of those years (the “start-up exception”). PFIC status for any taxable year is a factual annual determination that can be made only after the end of that year and will depend on the composition of New VIWO’s income and assets and the value of its assets from time to time and, for the taxable year in which the Business Combination occurs, the composition of the income and assets, and the value of the assets, of Future Vision, its predecessor for this purpose. The value of New VIWO’s assets includes the value of its goodwill and other intangible assets not shown on its financial statements, which may be determined, in large part, by reference to the market price of the New VIWO Ordinary Shares from time to time, which is subject to change and may be volatile. Accordingly, there is a risk that New VIWO may be a PFIC for its current or any future taxable year.

If Future Vision is or was a PFIC for any taxable year during the holding period of a U.S. Holder in its Future Vision Ordinary Shares, then, New VIWO will also be treated as a PFIC as to such U.S. Holder with respect to New VIWO Shares received in exchange for Future Vision Ordinary Shares pursuant to the Business Combination, even if New VIWO does not meet the test for PFIC status in its own right, unless the U.S. Holder made an applicable PFIC election (or elections). In addition, if this rule were to apply, such U.S. Holder would be treated for purposes of the PFIC rules as if such U.S. Holder held such New VIWO Shares (treated as shares of a PFIC as to such holder) for a period that includes such holder’s holding period for the Future Vision Ordinary Shares exchanged therefor.

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If New VIWO is a PFIC or is treated as a PFIC with respect to a U.S. Holder, such U.S. Holder generally will be subject to special and adverse rules with respect to (i) any gain recognized by the U.S. Holder on the sale or other disposition of its New VIWO Shares and (ii) any “excess distribution” made to the U.S. Holder (generally, any distributions to such U.S. Holder during a taxable year of the U.S. Holder to the extent greater than 125%