Company: TLGYF
Filing Date: 2025-12-29
Form Type: S-4/A
Source: 0001213900-25-125608
Chunk: 352

Company: TLGY ACQUISITION CORP
Filing Date: 2025-12-29
Form: S-4/A
Chunk 352
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 the Intended Tax Treatment Applies If the Intended Tax Treatment applies, a U.S. Holder that holds no Public Warrants generally will not recognize gain or loss upon the exchange of such U.S. Holder’s Public Shares or shares of SC Assets Common Stock, as applicable, solely for shares of StablecoinX Common Stock pursuant to the Mergers. Such U.S. Holder’s aggregate tax basis in the shares of StablecoinX Common Stock received in the Mergers generally will be the same as such U.S. Holder’s aggregate tax basis in the Public Shares or shares of SC Assets Common Stock, as applicable, surrendered in exchange therefor in the Mergers. In addition, such U.S. Holder’s holding period of the shares of StablecoinX Common Stock received in the Mergers generally will include such U.S. Holder’s holding period of Public Shares or shares of SC Assets Common Stock, as applicable, surrendered in exchange therefor in the Mergers. If the Intended Tax Treatment Does Not Apply If the Intended Tax Treatment does not apply, then (in each case, subject to the PFIC rules discussed above under “— Passive Foreign Investment Company Rules” in the case of a U.S. Holder who exchanges Public Shares for shares of StablecoinX Common Stock pursuant to the SPAC Merger): i.A U.S. Holder that holds no Public Warrants and that exchanges Public Shares or shares of SC Assets Common Stock solely for shares of StablecoinX Common Stock pursuant to the Mergers generally will recognize gain or loss equal to the difference between (1) the fair market value (determined as of the Closing Date) of the shares of StablecoinX Common Stock received by such U.S. Holder and (2) such U.S. Holder’s adjusted tax basis in the Public Shares or shares of SC Assets Common Stock, as applicable, surrendered in exchange therefor in the Mergers. Such gain or loss generally will be capital gain or loss and will be long -termcapital gain or loss if such U.S. Holder’s holding period for such Public Shares or shares of SC Assets Common Stock, as applicable, is more than one year at Closing. Long -termcapital gains recognized by non -corporateU.S. Holders generally are subject to U.S. federal income tax at a reduced rate of tax (compared to ordinary income). The deductibility of capital losses is subject to limitations. ii.Such U.S. Holder’s aggregate tax basis in the shares of StablecoinX Common