Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 393

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 393
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.S. Holder, at the close of its taxable year, owns (or is deemed to own) shares in a PFIC that are treated as marketable shares, the U.S. Holder may make a mark -to -marketelection with respect to such shares for such taxable year. If the U.S. Holder makes (or has made) a valid mark -to -marketelection with respect to Shares for such holder’s First PFIC Holding Year, such holder will generally not be subject to the Default PFIC Regime in respect of such shares as long as such shares continue to be treated as marketable shares. Instead, in general, the U.S. Holder will include as ordinary income for each year that BSII or TGE (as the case may be) is treated as a PFIC the excess, if any, of the fair market value of such shares at the end of its taxable year over the adjusted basis in such shares. The U.S. Holder also will be allowed to take an ordinary loss in respect of the excess, if any, of the adjusted basis of such shares over the fair market value of such shares at the end of its taxable year (but 252 only to the extent of the net amount of previously included income as a result of the mark -to -marketelection). The U.S. Holder’s basis in such shares will be adjusted to reflect any such income or loss amounts, and any further gain recognized on a sale or other taxable disposition of such shares in a taxable year in which BSII or TGE (as the case may be) is treated as a PFIC will be treated as ordinary income. Special tax rules may also apply if a U.S. Holder makes a mark -to -marketelection for a taxable year after such holder’s First PFIC Holding Year. Currently, a mark -to -marketelection may not be made with respect to any BSII Warrants or TGE Warrants. The mark -to -marketelection is available only for stock that is regularly traded on a national securities exchange that is registered with the Securities and Exchange Commission, including the [Nasdaq]. U.S. Holders should consult their own tax advisors regarding the availability and tax consequences of a mark -to -marketelection under their particular circumstances. Any Shares treated as stock of a PFIC under the Default PFIC Regime will continue to be treated as stock of a PFIC, including in taxable years in which BSII or TGE (as the case may be