Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 140

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 140
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30,000 GSR III Class B Ordinary Shares to three independent directors (10,000 each) at a purchase price of $0.00438 per share.
Additionally, in December 2024, the Sponsor transferred 225,000 GSR III Class B Ordinary Shares to a member of the management
team, also at a purchase price of $0.00438 per share. Although the shares were legally transferred in 2024, the awards were subject to
a performance condition (the Closing of the Business Combination). As such, in accordance with ASC 718, stock-based compensation
was not recognized until the Closing, when the performance condition was satisfied.

The grant date fair value of the shares was determined to
be $0.00438 per share, equal to the amount paid by the recipients. As a result, the total stock-based compensation expense recognized
was $0, as the fair value of the awards was fully offset by the amount initially received for the purchase of the shares.

| (s) | To reflect the conversion at Closing of 8,524,394 redeemable                                                                           
 GSR III Class A ordinary shares into 8,524,394 PubCo Ordinary Shares, par value $0.011789 per share. The conversion was effected at an 
 aggregate amount of $88.5 million, funded from the remaining cash held in the Trust Account. This amount was recorded as a reduction   
 in redeemable GSR III Class A ordinary shares and a corresponding increase in PubCo Ordinary Shares and additional paid-in capital.    |

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4. Adjustments to Unaudited Pro Forma Condensed Combined Statement of Operations for the Six Months Ended June 30, 2025 and for the Year Ended 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 Other Material Events:

| (aa) | To reflect the expense recognized for a warrant issued to                           
 a third party for services received (see Note 3(dd)). This is a non-recurring item. |

Pro Forma Transaction Accounting Adjustments:

| (a) | To reflect the transaction costs of GSR III of $2.0 million                                                                              
 for legal services related to the negotiation and structuring of the business combination agreement and preparation of the registration  
 statements and accounting and audit services for historical financial statements. None of these services were specific incremental costs