Company: NKLR
Filing Date: 2025-08-01
Form Type: S-4/A
Source: 0001213900-25-070223
Chunk: 233

Company: Terra Innovatum Global N.V.
Filing Date: 2025-08-01
Form: S-4/A
Chunk 233
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 above under the caption headings “— The Business Combination” and “— Redemption of GSR III Class A Ordinary Shares.” A U.S. holder that owns (or is deemed to own) shares in a PFIC during any taxable year of the U.S. holder generally is also required to file an IRS Form 8621 (whether or not a QEF or mark -to -marketelection is or has been made) with such U.S. holder’s U.S. federal income tax return and provide such other information as may be required by the U.S. Treasury Department. Failure to file IRS Form 8621 for each applicable taxable year may result in substantial penalties and result in the U.S. holder’s taxable years being open to audit by the IRS until such Form is properly filed. Effect of the PFIC Rules on the Merger Taxation of U.S. holders Making a Timely QEF Election. If the U.S. holder has made a timely and effective QEF election for the taxable year that is the first year in the U.S. holder’s holding period of GSR III Class A Ordinary Shares during which GSR III was classified as a PFIC or, if in a later taxable year, the U.S. holder made a QEF election together with a deemed sale election, the electing U.S. holder generally will not be subject to the excess distribution regime discussed above in “— Passive Foreign Investment Company Rules — In general” and the tax consequences generally should be as set forth above under the caption headings “— The Business Combination.” Taxation of U.S. holders Making a Mark -to -Market Election. If the U.S. holder makes a valid mark -to -marketelection for the first taxable year of the U.S. holder in which the U.S. holder holds (or is deemed to hold) GSR III Class A Ordinary Shares and for which GSR III is classified as a PFIC, such holder generally will not be subject to the excess distribution regime discussed above in “— Passive Foreign Investment Company Rules — In general” and the tax consequences generally should be as set forth above under the caption headings “— The Business Combination,” provided however that any gain recognized on the disposition of GSR III Class A Ordinary Shares will be treated as ordinary income. Taxation of U.S. holders Not Making a Timely QEF or Mark -to -Market Election.Section 1291(f) of the Code requires that, to the extent provided in Treasury Regulations, a U.S. person who dis