Company: NKLR
Filing Date: 2025-12-09
Form Type: S-1/A
Source: 0001213900-25-119411
Chunk: 109

Company: Terra Innovatum Global N.V.
Filing Date: 2025-12-09
Form: S-1/A
Chunk 109
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 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 proceeds were allocated to the PIPE Shares, resulting in a $36.8 million increase to additional paid-in capital on the unaudited pro forma condensed combined balance sheet as of September 30, 2025. Pursuant to the April 28, 2025 engagement letter between GSR III and The Benchmark Company, LLC (“Benchmark”), Benchmark was entitled to a placement agent fee equal to 5.0% of the gross proceeds from PIPE Subscribers it introduced. Benchmark sourced $19.2 million of gross proceeds, resulting in a $962.0 thousand cash fee paid at Closing. Additionally, pursuant to the engagement letter between GSR III and Benchmark, the Company reimbursed Benchmark for $200.