Company: NKLR
Filing Date: 2025-06-26
Form Type: S-4/A
Source: 0001213900-25-058019
Chunk: 230

Company: Terra Innovatum Global N.V.
Filing Date: 2025-06-26
Form: S-4/A
Chunk 230
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 ordinary income. Any loss from marking the PubCo Ordinary Shares to market would be recognized only to the extent of unreversed gains previously included in income. Loss from marking the PubCo Ordinary Shares to market would be ordinary, but loss on disposing of them would be capital loss except to the extent of mark -to -marketgains previously included in income. It is expected that 94 PubCo Ordinary Shares, which are expected to be listed on Nasdaq, will qualify as marketable shares for the PFIC rules purposes. No assurance can be given that the PubCo Ordinary Shares will be approved for listing on Nasdaq or traded in sufficient frequency and quantity to be considered “marketable stock.” A valid mark -to -marketelection cannot be revoked without the consent of the IRS unless the PubCo Ordinary Shares cease to be marketable stock. If PubCo determines it is a PFIC for any taxable year, upon written request, PubCo will endeavor to provide U.S. holders with the information that would be necessary to make a QEF election with respect to the PubCo Ordinary Shares. A U.S. holder that owns (or is deemed to own) shares in a PFIC during any taxable year of the U.S. holder generally is required to file an IRS Form 8621 (whether or not a QEF or mark -to -marketelection is or has been made) with such U.S. holder’s U.S. federal income tax return and provide such other information as may be required by the U.S. Treasury Department. Failure to file IRS Form 8621 for each applicable taxable year may result in substantial penalties and result in the U.S. holder’s taxable years being open to audit by the IRS until such Forms are properly filed. U.S. holders should consult their own tax advisors concerning the PubCo’s possible PFIC status and the consequences to them, including potential reporting requirements, if PubCo were classified as a PFIC for any taxable year. Tax Considerations for Non-U .S. holders The Business Combination A Non -U.S. holder will not be subject to U.S. federal income tax on the exchange of such Non -U.S. holder’s GSR III Class A Ordinary Shares unless (i) the gain is effectively connected with the Non -U.S. holder’s conduct of a trade or business in the United States, and if required by an applicable tax treaty, is attributable to a permanent establishment maintained by the Non -U.S. holder in the United States or (ii) the Non