Company: NKLR
Filing Date: 2025-05-14
Form Type: S-4
Source: 0001213900-25-043376
Chunk: 274

Company: Terra Innovatum Global N.V.
Filing Date: 2025-05-14
Form: S-4
Chunk 274
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 excess of the fair value of a) the PubCo shares issued to legacy shareholders of GSR III and the Vesting Sponsor Shares over b) GSR III’s net assets has been recorded as an expense within Other operating costs in the unaudited pro forma condensed combined statement of operations. The conversion of New TopCo’s issued and outstanding quotas into PubCo Ordinary Shares will be accounted for as a recapitalization in accordance with U.S. GAAP. GSR III will be treated as the “acquired” company for accounting purposes and PubCo will be treated as the accounting acquirer. PubCo, which is controlled by legacy Terra Innovatum Quotaholders, has been determined to be the accounting acquirer based on the following: •Under all redemption scenarios, legacy Terra Innovatum Quotaholders will have a majority of the voting interest in PubCo, with between 59.2% and 77.7% of the voting power held by legacy Terra Innovatum Quotaholders depending on the redemption scenario. •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. 3. Adjustments to the Unaudited Pro Forma Condensed Combined Balance Sheet as of December 31, 2024 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 Accrued Trust Account Dividends: (aa)To reflect actual and expected dividends on investments held in the Trust Account from January 1, 2025 through the estimated Closing Date of September30, 2025. Pro Forma Other Transaction Accounting Adjustments: (a)To reflect, in the No Redemption Scenario, the release of the investments held in the Trust Account to cash, assuming no GSR III public shareholders exercise their right to have their GSR III Class A Ordinary Shares redeemed for their pro rata share of the Trust Account. The amount of investments held in Trust Account released to cash is equal to the historical balance of the Trust Account as of December 31, 2024 in the amount of $231.4 million, plus $7.5 million actual and expected dividend income on the Trust Account subsequent to December 31, 2024 through the estimated Closing Date (