Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 169

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 169
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 intended that the Mergers, taken together and as part of an integrated transaction, will be treated as transactions governed by Section 351(a) of the Code. However, the Closing of the Business Combination is not conditioned on the receipt of an opinion of counsel or a ruling from the IRS that the Mergers will qualify as transactions governed by Section 351(a) of the Code, none of TLGY, SC Assets, and StablecoinX intends to request an opinion of counsel or a ruling from the IRS regarding the U.S. federal income tax consequences of the Mergers, and there can be no assurance that such an opinion of counsel or a ruling from the IRS can or will be obtained. Consequently, no assurance can be given that the Mergers will qualify as transactions governed by Section 351(a) of the Code, that the IRS will not challenge such qualification or that a court would not sustain such a challenge. If the Mergers do not qualify as transactions governed by Section 351(a) of the Code, you generally will recognize capital gain or loss for U.S. federal income tax purposes equal to the difference, if any, between (1) the sum of the fair market values (determined as of the Closing Date) of the shares of StablecoinX Common Stock and the StablecoinX Warrants (if any) received by you pursuant to the Mergers and (2) your aggregate adjusted tax basis in the Public Shares, shares of SC Assets Common Stock, and/or Public Warrants, as applicable, surrendered in exchange therefor. Moreover, regardless of whether the Mergers qualify as transactions governed by Section 351(a) of the Code, it is possible that you may recognize gain if your Public Warrants convert into StablecoinX Warrants pursuant to the SPAC Merger. You may also be subject to complex “passive foreign investment company” rules of the Code, which may further impact the U.S. federal income tax consequences of the Mergers to you. For a more complete description of the material U.S. federal income tax consequences of the Mergers, including such consequences if the Mergers do not qualify as transactions governed by Section 351(a) of the Code, see the section entitled “ Material U.S. Federal Income Tax Considerations — The Mergers”. Risks Related to StablecoinX and SC Assets’ Business and Industry SC Assets has no operating history and has not yet produced any revenues, which make it difficult to evaluate StablecoinX’s business