Company: CRAC
Filing Date: 2025-09-24
Form Type: S-1/A
Source: 0001213900-25-090802
Chunk: 299

Company: Crown Reserve Acquisition Corp. I
Filing Date: 2025-09-24
Form: S-1/A
Chunk 299
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 -upexception and will be a PFIC for our current taxable year. Our actual PFIC status for our current taxable year or any future taxable year, therefore, will not be determinable until after the end of such taxable year. Accordingly, there can be no assurance with respect to our status as a PFIC for our current taxable year or any future taxable year. 182 If we are determined to be a PFIC for any taxable year (or portion thereof) that is included in the holding period of a U.S. Holder of our Class A ordinary shares, warrants, or Share Rights and, in the case of our Class A ordinary shares, the U.S. Holder did not make either a timely qualified electing fund (“QEF”) election or a mark -to-marketelection, each as described below, for our first taxable year as a PFIC in which the U.S. Holder held (or was deemed to hold) Class A ordinary shares, such holder generally will be subject to special rules with respect to: •any gain recognized by the U.S. Holder on the sale or other disposition of its Class A ordinary shares, warrants, or Share Rights (which may include gain realized by reason of transfer of Class A ordinary shares, warrants, or Share Rights that would otherwise qualify as nonrecognition transactions for U.S. federal income tax purposes); and •any “excess distribution” made to the U.S. Holder (generally, any distributions to such U.S. Holder during a taxable year of the U.S. Holder that are greater than 125% of the average annual distributions received by such U.S. Holder in respect of the Class A 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 Class A ordinary shares). Under these rules, •the U.S. Holder’s gain or excess distribution will be allocated ratably over the U.S. Holder’s holding period for the Class A ordinary shares, warrants, or Share Rights; •the amount allocated to the U.S. Holder’s taxable year in which the U.S. Holder recognized the gain or received the excess distribution, or to the period in the U.S. Holder’s holding period before the first day of our first taxable year in which we are a PFIC, will be taxed as ordinary income; •the amount allocated to other taxable years (or portions thereof) of the U.S. Holder and included in its holding period will be taxed at the highest tax rate