Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 347

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 347
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 (2) a mark -to -marketelection, in each case as further described below, such U.S. Holder generally will be subject to special rules with respect to: i.any gain recognized by such U.S. Holder on the sale or other disposition of such U.S. Holder’s TLGY Ordinary Shares (including Public Shares) or TLGY Warrants (including Public Warrants); and ii.any “excess distribution” made to such U.S. Holder (generally, any distributions to such U.S. Holder during a taxable year of such U.S. Holder that are greater than 125% of the average annual distributions received by such U.S. Holder in respect of the TLGY Ordinary Shares during the three preceding taxable years of such U.S. Holder or, if shorter, such U.S. Holder’s holding period for the TLGY Ordinary Shares). Under these rules, i.such U.S. Holder’s gain or excess distribution will be allocated ratably over such U.S. Holder’s holding period for the TLGY Ordinary Shares (including Public Shares) or TLGY Warrants (including Public Warrants); ii.the amount allocated to such U.S. Holder’s taxable year in which such U.S. Holder recognized the gain or received the excess distribution, or to the period in such U.S. Holder’s holding period before the first day of TLGY’s first taxable year in which TLGY was a PFIC, will be taxed as ordinary income; iii.the amount allocated to other taxable years (or portions thereof) of such U.S. Holder and included in such U.S. Holder’s holding period will be taxed at the highest tax rate in effect for that year and applicable to such U.S. Holder; and iv.the interest charge generally applicable to underpayments of tax will be imposed in respect of the tax attributable to each such other taxable year of such U.S. Holder. In general, if TLGY is determined to be a PFIC, a U.S. Holder may avoid the special tax and interest charge rules described above in respect of TLGY Ordinary Shares (including Public Shares), but not TLGY Warrants (including Public Warrants), if such U.S. Holder has made, (1) for TLGY’s first taxable year as a PFIC in which the U.S. Holder held (or was deemed to hold) TLGY Ordinary Shares, a timely and valid QEF election (if eligible to do so), to include in income such U.S. Holder’s pro rata share of TLGY’s