Company: BPAC
Filing Date: 2025-10-22
Form Type: S-1/A
Source: 0001185185-25-001525
Chunk: 231

Company: Blueport Acquisition Ltd
Filing Date: 2025-10-22
Form: S-1/A
Chunk 231
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 the rights may be viewed as a forward contract, derivative security or similar
interest in our company (analogous to an option with no exercise price), and thus the holder of the right would not be viewed as owning
the Class A ordinary shares issuable pursuant to the rights until such Class A ordinary shares are actually issued. There may be other
alternative characterizations of the rights that the IRS may successfully assert, including that the rights are treated as equity in our
company at the time the rights are issued, that would reach different conclusions regarding the tax treatment of the rights under the
PFIC rules. In any case, depending on which characterization is successfully applied to the rights, different PFIC consequences may result
for U.S. Holders of the rights. It is also likely that a U.S. Holder of rights would not be able to make a QEF or mark-to-market election
(discussed below) with respect to such U.S. Holder’s rights. Due to the uncertainty of the application of the PFIC rules to the
rights, all potential investors are strongly urged to consult with their own tax advisors regarding an investment in the rights offered
hereunder as part of the units offering and the subsequent consequences to holders of such rights in any initial business combination.

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The QEF election is made on a
shareholder-by-shareholder basis 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 United States
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
should consult their tax advisors regarding the availability and tax consequences of a retroactive QEF election under their particular
circumstances. Under current law, a QEF election may not be made with respect to our rights.

In order to comply with the requirements
of a QEF election, a U.S. Holder must receive a PFIC annual information statement from us. If we determine we are a PFIC for any
taxable year, upon written request, we will endeavor to provide