Company: NKLR
Filing Date: 2025-12-16
Form Type: 424B3
Source: 0001213900-25-121900
Chunk: 119

Company: Terra Innovatum Global N.V.
Filing Date: 2025-12-16
Form: 424B3
Chunk 119
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 determined to be the accounting acquirer based on the following:

| ● | Legacy Terra Innovatum Global                                                                
 Quotaholders held a majority of the voting interest in PubCo, with 67.6% of the voting power 
 held by legacy Terra Innovatum Global Quotaholders at Closing.                               |

| ● | All of the senior management of PubCo will come from the 
 senior management of Terra Innovatum.                    |

| ● | Terra Innovatum will appoint a majority of the directors 
 to the board of directors of PubCo.                      |

| ● | The intended strategy of PubCo will be to continue to 
 focus on Terra Innovatum’s core service offerings.    |

The pro forma notes and adjustments, based on
preliminary estimates that could change materially as additional information is obtained, are as follows:

Pro Forma Adjustments for PIPE Financing:

| (aaa) | In September                                                                                   
 2025 and October 2025, GSR III entered into Subscription Agreements for the private placement  
 sale of 3,683,500 PubCo Ordinary Shares at $10.00 per share for aggregate gross proceeds       
 of $36.8 million prior to the payment of placement agent fees of $1.2 million. Additionally,   
 in connection with the PIPE Financing, GSR III committed to issue two sets of warrants upon    
 the Closing of the Business Combination, the Half Warrants, exercisable for 1,841,750 PubCo    
 Ordinary Shares at an exercise price of $12.00 per share and the Quarter Warrants, exercisable 
 for 920,875 PubCo Ordinary Shares at an exercise price of $16.00 per share. The PIPE Warrants  
 have a five-year term from issuance.                                                           |

The PIPE Shares and PIPE Warrants qualify for permanent
equity classification under ASC 815-40. As such, the $36.8 million of proceeds was allocated between the PIPE Shares and the PIPE Warrants
on the basis of their relative fair values. The fair values of the PIPE Shares and PIPE Warrants were determined using a Monte Carlo
simulation with assumptions including a $7.41 share price, 3.61% to 3.67% risk-free rate, and 117.5% volatility. As a result, $6.6 million
of the gross proceeds were allocated to the Half Warrants, $2.9 million of the gross proceeds were allocated to the Quarter Warrants,
and $27.3 million of the gross