Company: FVN
Filing Date: 2025-03-10
Form Type: DRS/A
Source: 0001829126-25-001610
Chunk: 243

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-10
Form: DRS/A
Chunk 243
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Mark-to-Market Election

As an alternative to a QEF election, if a U.S. Holder owns shares in a company that is a PFIC and the shares are “regularly traded” on a “qualified exchange,” such U.S. Holder could make a mark-to-market election that would result in tax treatment different from that under the interest charge rules described above. The Future Vision Ordinary Shares and New VIWO Ordinary Shares will be treated as regularly traded for any calendar year in which more than a de minimis quantity of the Future Vision Ordinary Shares or New VIWO Ordinary Shares, as applicable, are traded on a qualified exchange on at least 15 days during each calendar quarter. Nasdaq, where the Future Vision Shares are listed and the New VIWO Ordinary Shares are expected to be listed, is a qualified exchange for this purpose.

Such electing U.S. Holder generally will include for each of its taxable years as ordinary income the excess, if any, of the fair market value of its New VIWO Shares at the end of such year over its adjusted basis in its New VIWO Ordinary Shares. The U.S. Holder also will recognize an ordinary loss in respect of the excess, if any, of its adjusted basis of its New VIWO Ordinary Shares over the fair market value of its New VIWO Ordinary Shares at the end of its taxable year (but only to the extent of the net amount of previously included in income as a result of the mark-to-market election). The U.S. Holder’s basis in its New VIWO Ordinary Shares will be adjusted to reflect any such income or loss amounts. Any gain recognized on a sale or other taxable disposition of its New VIWO Ordinary Shares will be treated as ordinary income, and any loss will be treated as an ordinary loss (but only to the extent of the net amount previously included in income as a result of the mark-to-market election, with any excess treated as a capital loss). If a U.S. Holder makes the mark-to-market election, distributions paid on New VIWO Ordinary Shares will be treated as discussed under “U.S. Federal Income Tax Consequences of Ownership and Disposition of New VIWO Ordinary Shares— Taxation of Distributions with respect to New VIWO Ordinary Shares” above.

If made, a mark-to-market election will be effective for the taxable year for which the election is made and for all subsequent taxable years in which New VIWO is a PFIC, unless the New VIWO Ordinary Shares cease to qualify as “regularly traded”