Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 324

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 324
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. 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 142 under their particular circumstances. In order to comply with the requirements of a QEF election, a U.S. Holder must receive a PFIC Annual Information Statement from TLGY. There is no assurance, however, that TLGY will timely provide such information. If a U.S. Holder has made a QEF election with respect to TLGY Ordinary Shares, and the special tax and interest charge rules do not apply to such TLGY Ordinary Shares (because of a timely QEF election for TLGY’s first taxable year as a PFIC in which the U.S. Holder holds (or is deemed to hold) such TLGY Ordinary Shares or because of QEF election along with a purging election), any gain recognized on the sale or exchange of TLGY Ordinary Shares (including Public Shares) generally will be taxable as capital gain and no interest charge will be imposed under the PFIC rules. As discussed above, U.S. Holders who have made QEF elections are currently taxed on their pro rata shares of TLGY’s earnings and profits, whether or not distributed for such taxable year. In such case, a subsequent distribution of such earnings and profits that were previously