Company: NKLR
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001213900-25-063846
Chunk: 204

Company: Terra Innovatum Global N.V.
Filing Date: 2025-07-15
Form: S-4/A
Chunk 204
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 of a business. The consideration transferred to the GSR III shareholders to effect the asset acquisition consists of PubCo Ordinary Shares and contingently issuable PubCo Ordinary Shares. As GSR III is comprised primarily of monetary assets (Cash and Investments held in Trust Account), the fair value of the aforementioned consideration transferred is deemed equivalent to GSR III’s net assets. As the consideration transferred is deemed equivalent to the net assets acquired, the net assets of GSR III will be stated at their carrying values, which are deemed to be stated at their respective fair values, and no goodwill (or gain or loss) will be recognized. The conversion of New TopCo’s issued and outstanding quotas into PubCo Ordinary Shares, which will be effected in connection with the aforementioned asset acquisition (a recapitalization by/via asset acquisition), 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 legal and 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 58.7% and 77.4% 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. Appraisal Rights The Cayman Islands Companies Act prescribes when shareholder appraisal rights are available and sets limitations on such rights. Where such rights are available, shareholders are entitled to receive fair value for their shares. However, regardless of whether such rights are or are not available, shareholders are still entitled to exercise the rights of redemption as set out herein, and the GSR III board of directors has determined that the redemption proceeds payable to shareholders who exercise such redemption rights represents the fair value of those shares. GSR III shareholders will have appraisal rights under the Cayman Islands Companies Act. Section 238. (1) of the Cayman Islands Companies Act provides that a member of a constituent company incorporated thereunder shall be entitled to payment of the fair