Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 348

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 348
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 net capital gains (as long -termcapital gain) and other earnings and profits (as ordinary income), on a current basis, in each case whether or not distributed, in the taxable year of the U.S. Holder in which or with which TLGY’s taxable year ends, or (2) if in a later taxable year, such QEF election along with a “purging election.” One type of a purging election generally creates a deemed sale of the U.S. Holder’s TLGY Ordinary Shares at their then fair market value and requires the U.S. Holder to recognize gain pursuant to the purging election subject to the special PFIC tax and interest charge rules described above. Other types of purging elections may be available depending on a U.S. Holder’s particular circumstances (including a potential “deemed dividend” purging election that may be available if TLGY is a “controlled foreign corporation” for U.S. federal income tax purposes). U.S. Holders are urged to consult their tax advisors as to the application of the rules governing purging elections to their particular circumstances. A U.S. Holder would not have been able to make a QEF election with respect to TLGY Warrants (including Public Warrants). As a result, if a U.S. Holder sells or otherwise disposes of any TLGY Warrants (including Public Warrants) (other than upon exercise of such warrants), any gain recognized generally will be subject to the special tax and interest charge rules as described above if TLGY was a PFIC at any time during the period the U.S. Holder held the TLGY Warrants (including Public Warrants). The QEF election is made on a shareholder -by -shareholderbasis and, once made, can be revoked only with the consent of the IRS. A U.S. Holder generally makes a QEF election by attaching a completed IRS Form 8621 (Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund), including the information provided in a PFIC Annual Information Statement, to a timely filed U.S. federal income tax return for the tax year to which the election relates. Retroactive QEF elections generally may be made only by filing a protective statement with such return and if certain other conditions are met or with the consent of the IRS. U.S. Holders are urged to consult their own tax advisors regarding the availability and tax consequences of a retroactive QEF election under their particular circumstances. In order to comply with the requirements of a QEF election