Company: FVN
Filing Date: 2025-04-14
Form Type: DRS/A
Source: 0001829126-25-002616
Chunk: 184

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-04-14
Form: DRS/A
Chunk 184
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) results in a “complete termination” of such holder’s interest in us or (iii) is “not essentially equivalent to a dividend” with respect to such holder. These tests are explained more fully below.

In determining whether any of the foregoing tests are satisfied, a U.S. Holder must take into account not only the Future Vision Ordinary Share actually owned by such holder, but also our Future Vision Ordinary Share that is constructively owned by such holder. A U.S. Holder may constructively own, in addition to our Ordinary Share owned directly, Ordinary Share owned by related individuals and entities in which such holder has an interest or that have an interest in such holder, as well as any Ordinary Share such holder has a right to acquire by exercise of an option. In order to meet the substantially disproportionate test, the percentage of our issued and outstanding voting shares actually and constructively owned by a U.S. Holder immediately following the redemption of our Ordinary Share must, among other requirements, be less than 80% of the percentage of our issued and outstanding voting and Ordinary Share actually and constructively owned by such holder immediately before the redemption. There will be a complete termination of a U.S. Holder’s interest if either (i) all of our Ordinary Share is actually and constructively owned by such U.S. Holder are redeemed or (ii) all of our Ordinary Share actually owned by such U.S. Holder is redeemed and such holder is eligible to waive, and effectively waives, in accordance with specific rules, the attribution of shares owned by family members and such holder does not constructively own any other shares. The redemption of the Ordinary Share will not be essentially equivalent to a dividend if such redemption results in a “meaningful reduction” of a U.S. Holder’s proportionate interest in us. Whether the redemption will result in a meaningful reduction in a U.S. Holder’s proportionate interest in us will depend on the particular facts and circumstances. However, the IRS has indicated in a published ruling that even a small reduction in the proportionate interest of a small minority shareholder in a publicly held corporation who exercises no control over corporate affairs may constitute such a “meaningful reduction.” U.S. Holders should consult with their own tax advisors as to the tax consequences of any such redemption.

If none of the foregoing tests are satisfied, then the redemption may be treated as a distribution a U.S. Holder generally will be required to include in gross income as dividends the amount received. Such amount will be taxable to a corporate U.S. holder at regular rates