Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 229

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 229
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 9, 2025, pursuant to the terms of the Business Combination Agreement, the Business Combination was consummated.
As a result of the transaction, the Company ceased to exist as an independent entity and became a wholly owned subsidiary of Pubco. In
connection with the closing, holders of 14,475,606 Class A ordinary shares elected to redeem their shares for an aggregate payment of
approximately $150.4 million (at $10.39 per share), funded from the Trust Account. After giving effect to these redemptions, the Trust
Account held approximately $88.5 million, of which approximately $69.8 million was transferred from the Trust Account to Terra Innovatum
Global as part of the closing consideration and approximately $18.7 million was used to settle transaction-related costs, including $9.2
million for deferred underwriting commissions and other professional fees, legal costs, and advisory expenses. Additionally, $36.8 million
in PIPE proceeds was received into escrow, which funds were wired to Terra Innovatum Global in accordance with the transaction agreements

Name Change

Also on October 9, 2025, the Company changed its name to "XIT Corp." via special resolution, which name change was certified
on October 14, 2025.

Stock-Based Compensation

For the 255,000 Founder Shares granted to the Company's directors and management person,
no stock-based compensation was recognized upon consummation of the Business Combination since the grant date fair value per share of
$0.004348 equaled the amount initially received for the purchase of the Founder Shares.

Overall

Management believes these transactions significantly impact the Company’s
future operations and capital structure. No adjustments have been made to the accompanying financial statements as of June 30, 2025 for
these subsequent events.

<div align='center'>F-18

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>

To the Shareholders and Board of Directors of

GSR III Acquisition Corp.

Opinion on the Financial Statements

We have audited the accompanying balance
sheets of GSR III Acquisition Corp. (the “Company”) as of December 31, 2024 and 2023, and the related statements of operations,
changes in shareholders’ equity (deficit), and cash flows for the year ended December 31, 2024 and for the period from May 10, 2023
(inception) through December 31, 2023, and the related