Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 46

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 46
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 lose its ability to rely upon exemptions from certain corporate governance requirements under the listing rules of the Stock Exchange (the “ Listing Rules”). A U.S. -listedpublic company that is not a foreign private issuer will incur significant additional legal, accounting and other expenses that a foreign private issuer will not incur. FST does not intend to make any determinations on whether FST or its subsidiaries are CFCs for U.S. federal income tax purposes. FST does not intend to make any determinations on whether FST or any of its subsidiaries are treated as “controlled foreign corporations” within the meaning of Section 957(a) of the Code (“ CFCs”), or whether any U.S. Holder (as defined below in the section titled “ Material U.S. Federal Income Tax Considerations for SPAC and Holders of SPAC Securities and FST Securities”) of FST Ordinary Shares is treated as a “United States shareholder” within the meaning of Section 951(b) of the Code with respect to FST or any of its subsidiaries. FST does not expect to furnish to any U.S. Holder of FST Ordinary Shares information that may be necessary to comply with applicable reporting and tax paying obligations with respect to CFCs. The IRS has provided limited guidance regarding the circumstances in which investors may rely on publicly available information to comply with their reporting and taxpaying obligations with respect to CFCs. U.S. Holders of FST Ordinary Shares should consult their tax advisors regarding the potential application of these rules to their particular circumstances. If FST or any of its subsidiaries are characterized as a passive foreign investment company, or PFIC, for U.S. federal income tax purposes, U.S. Holders may suffer adverse U.S. federal income tax consequences. A non -U.S. corporation generally will be treated as a PFIC for U.S. federal income tax purposes, in any taxable year if either (1) at least 75% of its gross income for such year is passive income or (2) at least 50% of the value of its assets (generally based on an average of the quarterly values of the assets) during such year is attributable to assets that produce or are held for the production of passive income. As of the date hereof, FST has not made a determination as to its PFIC status for its current taxable year or any other taxable year. Whether FST or any of its subsidiaries are a PFIC for any taxable year is a factual determination that depends on, among other