Company: NKLR
Filing Date: 2025-12-09
Form Type: S-1/A
Source: 0001213900-25-119411
Chunk: 116

Company: Terra Innovatum Global N.V.
Filing Date: 2025-12-09
Form: S-1/A
Chunk 116
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 $47.7 thousand of interest expense was incurred. As a result of the conversion, a net total of $3.6 million of bridge loans, net was derecognized from the unaudited pro forma condensed combined balance sheet as of September 30, 2025 with a corresponding increase to PubCo Ordinary Shares of $10.0 thousand to reflect the par value of the shares issued and the remaining $3.6 million to additional paid-in capital in accordance with ASC 470-20-40-4.

| (p) | To reflect the conversion of all 422,500 GSR III Class A Ordinary                               
 Shares not subject to possible redemption issued and outstanding immediately prior to the       
 Closing into PubCo Ordinary Shares, and to reflect the conversion of 5,200,500 GSR III Class    
 B Ordinary Shares issued and outstanding immediately prior to the Closing into PubCo Ordinary   
 Shares (5,750,000 issued and outstanding GSR III Class B Ordinary Shares less the 549,500       
 GSR III Class B Ordinary Shares subject to certain vesting or forfeiture conditions) (see       
 Note 3(m)). Additionally, to reflect the conversion of 3,346,071 GSR III Class A Ordinary       
 Shares issued and outstanding immediately prior to the Closing resulting from the automatic     
 exercise immediately prior to the Closing of the GSR III Rights (see Note 3(j)). The conversion 
 of the shares resulted in a $104.3 thousand reduction to additional paid-in capital, which      
 represents the excess par value of PubCo Ordinary Shares over the par value of GSR III Class    
 A Ordinary Shares and GSR III Class B Ordinary Shares, respectively.                            |

75

| (q) | To reflect the redemption of 14,475,606 issued and outstanding                                  
 GSR III Class A Ordinary Shares subject to possible redemption immediately prior to the Closing 
 for a total cash payment of $150.4 million at an approximate redemption price of $10.39 per     
 share.                                                                                          |

The redemptions satisfy both the GSR III Available Cash requirement and the $5,000,001 minimum net tangible asset requirement set forth in the Business Combination Agreement. The $5,000,001 minimum net tangible asset requirement set forth in section 9.1(f) of the Business Combination Agreement applies to GSR III’s net tangible assets immediately prior to the Closing. The GSR III Available Cash requirement set forth in section 9.1(e) of the Business Combination Agreement requires that G