Extract to table

Even where the statutory form requirement is met, a transaction must additionally satisfy certain judicial and administrative requirements to qualify as a tax-free reorganization

All such payments must be aggregated for each disqualified individual and compared to the three-times-base-amount threshold

However, the practical feasibility of obtaining the required stockholder approval must be carefully evaluated

Penterra or the exchange agent must furnish Form 1099-B to each Caliston stockholder (other than corporate or exempt recipients) and file copies with the IRS

Shares of Penterra common stock issued as merger consideration are not subject to withholding, but the fair market value of the shares must be reported as part of the merger consideration on Form 1099-B