Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 325

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 325
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 included in the U.S. Holder’s income generally should not be taxable as a dividend to such U.S. Holders. The tax basis of such U.S. Holder’s TLGY Ordinary Shares will be increased by amounts that are included in income, and decreased by amounts distributed but not taxed as dividends, under the above rules. The impact of the PFIC rules on a U.S. Holder of TLGY Ordinary Shares (including Public Shares) may also depend on whether the U.S. Holder has made a mark -to -marketelection under Section 1296 of the Code. U.S. Holders who hold (actually or constructively) stock of a foreign corporation that is classified as a PFIC may annually elect to mark such stock to its market value if such stock is “marketable stock,” generally, stock that is regularly traded on a national securities exchange that is registered with the SEC, including Nasdaq (an “ MTM Election”). However, because TLGY is no longer listed on Nasdaq, no assurance can be given that TLGY Ordinary Shares (including Public Shares) will be considered to be marketable stock for purposes of the MTM Election or whether the other requirements of this election are satisfied. U.S. Holders should consult their own tax advisors regarding the availability and tax consequences of an MTM Election in respect of TLGY Ordinary Shares under their particular circumstances. If such an election is available and has been made, such U.S. Holders generally will not be subject to the special taxation rules of Section 1291 of the Code discussed above with respect to their TLGY Ordinary Shares (including Public Shares). However, if the MTM Election is not made by a U.S. Holder with respect to the first taxable year of such U.S. Holder’s holding period for the TLGY Ordinary Shares, then the Section 1291 rules discussed above will apply to certain dispositions of, distributions on and other amounts taxable with respect to the TLGY Ordinary Shares. A mark -to -marketelection is not available with respect to TLGY Warrants. THE PFIC RULES ARE VERY COMPLEX. U.S. HOLDERS ARE URGED TO CONSULT THEIR TAX ADVISORS REGARDING THE CONSEQUENCES TO THEM OF THE PFIC RULES, INCLUDING, WITHOUT LIMITATION, WHETHER A QEF ELECTION (OR A QEF ELECTION ALONG WITH A PURGING ELECTION), AN MTM ELECTION OR ANY OTHER ELECTION IS AVAILABLE AND WHETHER AND HOW ANY OVERLAP RULES APPLY