Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 326

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 326
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, AND THE CONSEQUENCES TO THEM OF ANY SUCH ELECTION OR OVERLAP RULE AND THE IMPACT OF ANY PROPOSED OR FINAL TREASURY REGULATIONS. Tax Consequences to Non-U .S. Holders of Exercising Redemption Rights and Participating in the Redemption The U.S. federal income tax consequences to a Non -U.S. Holder of Public Shares that exercises redemption rights and participates in the Redemption will depend on whether the Redemption qualifies as a sale with respect to such Non -U.S. Holder or instead a corporate distribution, pursuant to the rules described above under the section entitled “ — The Redemption — Tax Consequences to U.S. Holders of Exercising Redemption Rights and Participating in the Redemption — In General,” which generally should also apply to Non -U.S. Holders. If the Redemption is treated as a sale with respect to such Non -U.S. Holder, such Non -U.S. Holder generally will not be subject to U.S. federal income tax on any gain attributable to such sale, unless a situation described below in the section entitled “— Ownership and Disposition of Shares of StablecoinX Common Stock — Tax Consequences to Non -U .S. Holders — Sales or Other Taxable Exchanges or Dispositions of Shares of StablecoinX Common Stock” applies with respect to such Non -U.S. Holder (with reference to Public Shares and TLGY, instead of shares of StablecoinX Common Stock and StablecoinX), in which case, see such section below (with reference to Public Shares and TLGY, instead of StablecoinX Common Stock and StablecoinX). If the Redemption is instead treated as a distribution by TLGY with respect to such Non -U.S. Holder, then such amounts deemed distributed to such Non -U.S. Holder generally will not be subject to U.S. federal income tax. 143 The Mergers In General It is intended that the Mergers, taken together and as part of an integrated transaction, will be treated as transactions governed by Section 351(a) of the Code (the “ Intended Tax Treatment”). However, Section 351(e)(1) of the Code provides that even if a transaction otherwise satisfies all the requirements of Section 351(a) of the Code, Section 351 of the Code shall not apply to a transfer of property to an “investment company.” Whether StablecoinX is an investment company for purposes of Section 351(e)(1) of the Code will depend in part on