Company: SATLW
Filing Date: 2025-02-14
Form Type: F-4
Source: 0001437749-25-004040
Chunk: 124

Company: Satellogic Inc.
Filing Date: 2025-02-14
Form: F-4
Chunk 124
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 unless such a U.S. Holder makes the “all earnings and profits election” as described below, such U.S. Holder generally must recognize gain (but not loss) with respect to its ordinary shares in an amount equal to the excess of the fair market value of the DE Common Stock received in the Domestication over the U.S. Holder’s adjusted tax basis in the BVI Ordinary Shares deemed surrendered in exchange therefor. Subject to the discussion below under the section entitled “— PFIC Considerations,” such gain should be capital gain, and should be classified as long-term capital gain to the extent the U.S. Holder has held the BVI Ordinary Shares for longer than one year. Long-term capital gains of non-corporate taxpayers generally are subject to tax at preferential rates under current U.S. federal income tax law. U.S. Holders who hold different blocks of BVI Ordinary Shares (generally, BVI Ordinary Shares purchased or acquired on different dates or at different prices) should consult their tax advisors to determine how the above rules apply to them.

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In lieu of recognizing any gain as described in the preceding paragraph, a U.S. Holder may elect to include in income as a deemed dividend paid by Satellogic the “all earnings and profits amount” attributable to its Satellogic BVI Ordinary Shares under Section 367(b) of the Code. There are, however, several conditions for making this election. This election must comply with applicable Treasury Regulations and generally must include, among other things:

| ● | a statement that the Domestication is a Section 367(b) exchange (within the meaning of the applicable Treasury Regulations); |

| ● | a complete description of the Domestication; |

| ● | a description of any stock, securities or other consideration transferred or received in the Domestication; |

| ● | a statement describing the amounts required to be taken into account for U.S. federal income tax purposes; |

| ● | a statement that the U.S. Holder is making the election that includes (A) a copy of the information that the U.S. Holder received from Satellogic establishing and substantiating the U.S. Holder’s “all earnings and profits amount” with respect to the U.S. Holder’s ordinary shares and (B) a representation that the U.S. Holder has notified the Company that the U.S. Holder is making the election, and |

| ● | certain other information required to be furnished with the U.S. Holder’s tax return