Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 78

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 78
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 business combination, such as the Merger. In such an event, all accrued
and unaccrued interest becomes immediately due and payable on the 30th day following the completion of the qualifying transaction.

In August and September 2025, the Company entered
into letter agreements to convert the Q3 2025 Bridge Loans into ordinary shares of Terra Innovatum Global Global N.V. if the Merger is
completed (the “Q3 2025 Bridge Loan Conversion”). Per the terms of the agreements, if the Q3 2025 Bridge Loan Conversion happens
at the time of the Merger, the shares will be priced at $7.00 each. If the Merger does not occur by April 30, 2026, the August Bridge
Loan Conversion price will instead be based on a valuation of $100,000,000 divided by the fully diluted equity of Terra. If the Merger
is successful, the shares will be issued by Terra Innovatum Global N.V.; if not, they will be issued by Terra or its parent company. If
the Merger is completed, Terra is released from its obligations, and Terra Innovatum Global N.V. assumes them. If the Merger is not completed,
the lenders are also entitled to a liquidation preference for shares received upon conversion, the lender is also entitled to a liquidation
preference, receiving either 150% of the conversion price or a pro rata share of the liquidation proceeds, whichever is greater.

Bridge Loan Amendments

In August 2025, we amended our Bridge Loan agreements.
The liquidation preference in each agreement was modified to apply only upon termination of the Merger and entitles lenders to the greater
of 150% of the conversion price, as defined, or a pro rata share of the equity issuer’s assets based on their ownership percentage.
Upon consummation of the Merger, the liquidation preference will terminate. The amendment defines the coverage amount as 100% of the total
number of shares issued upon conversion. Following the Merger, lenders will receive two sets of warrants to subscribe to a number of ordinary
shares of the Company equal to the coverage amount, priced at $11.50 and $15.00 per share respectively. These warrants are exercisable
within 36 months and do not include anti-dilution rights. Additionally, lenders are obligated to use their best efforts to actively
support PIPE fundraising efforts and will earn a 3% commission on the funds raised through their