Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 59

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 59
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 of creditors. If you are a holder of the BSII Public Shares and you exercise your redemption rights, it will not result in the loss of any Public Warrants that you may hold. Your Public Warrants will be exchanged for TGE warrants upon consummation of the Business Combination, with each warrant exercisable for one TGE ordinary share at a purchase price of $11.50. Assuming the maximum redemptions scenario and based on a closing market price of $per Public Warrant on, 2025, the aggregate value of the Public Warrants that may be retained by redeeming shareholders, after redeeming their shares, would be approximately $million. Q:What are the U.S. federal income tax consequences of exercising my redemption rights? A:A U.S. Holder (as defined in the section titled “Tax Considerations — U.S. Federal Income Tax Considerations” below) of BSII Class A Ordinary Shares that exercises its redemption rights may be treated as selling BSII Class A Ordinary Shares, resulting in the recognition of gain or loss. However, there are certain circumstances in which the redemption may instead be treated as a distribution for U.S. federal income tax purposes depending on the amount of ordinary shares that a U.S. Holder owns or is deemed to own (including through the ownership of warrants) at the relevant time. As discussed in more detail below, Black Spade II anticipates that it will be treated as a passive foreign investment company (“PFIC”) with respect to its current taxable year. In that case, the U.S. federal income tax treatment of any income or gain recognized by a U.S. Holder that exercises its redemption rights will depend on the application of the PFIC rules discussed below and whether the U.S. Holder has made a QEF Election (as defined below) or mark -to -marketelection with respect to its BSII Class A Ordinary Shares. For a more complete discussion of the U.S. federal income tax considerations of an exercise of redemption rights by a U.S. Holder, see the sections titled “Tax Considerations — U.S. Federal Income Tax Considerations — Effects to U.S. Holders of Exercising Redemption Rights” and “Tax Considerations — U.S. Federal Income Tax Considerations — PFIC Considerations.” All holders considering exercising redemption rights should consult their tax advisors regarding the tax consequences to them of an exercise of redemption rights, including the applicability and effect of U.S. federal, state, local and non -U.S. tax laws.