Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 354

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 354
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 recognize gain (but not loss) in an amount equal to the lesser of (i) the amount of gain realized by such U.S. Holder (generally, the excess (if any) of (x) the sum of the fair market values (determined as of the Closing Date) of the shares of StablecoinX Common Stock and the StablecoinX Warrants received by such U.S. Holder pursuant to the SPAC Merger over (y) such U.S. Holder’s aggregate adjusted tax basis in the Public Shares and Public Warrants surrendered in exchange therefor in the SPAC Merger) and (ii) the fair market value (determined as of the Closing Date) of the StablecoinX Warrants received by such U.S. Holder pursuant to the SPAC Merger. To determine the amount of gain, if any, that such U.S. Holder must recognize, such U.S. Holder must compute the amount of gain or loss realized as a result of the SPAC Merger on a share -by -shareand warrant -by -warrantbasis by allocating the aggregate fair market values of (i) the shares of StablecoinX Common Stock and (ii) the StablecoinX Warrants received by such U.S. Holder among the Public Shares and Public Warrants owned by such U.S. Holder immediately prior to the Mergers in proportion to their fair market values. Any such gain recognized generally will be capital gain and will be long -termcapital gain if such U.S. Holder’s holding period for the Public Shares or Public Warrants, as applicable, is more than one year at Closing. Long -termcapital gains recognized by non -corporateU.S. Holders generally are subject to U.S. federal income tax at a reduced rate of tax (compared to ordinary income). Any loss realized by such U.S. Holder would not be recognized. ii.Such U.S. Holder’s aggregate tax basis in the shares of StablecoinX Common Stock received in the SPAC Merger generally will be the amount equal to (1) such U.S. Holder’s aggregate tax basis in the Public Shares and Public Warrants surrendered in the Mergers, plus (2) the amount of any gain recognized by such U.S. Holder in the SPAC Merger (as described above), minus (3) the fair market value (determined as of the Closing Date) of the StablecoinX Warrants received by such U.S. Holder pursuant to the SPAC Merger. Such