Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 136

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 136
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 in its valuation model. These assumptions resulted in a grant date fair value of a call option
(as a warrant is akin to a written call option) of approximately $8.00 per share.

| (j) | To reflect the issuance of 3,346,071 shares of GSR III                                                                               
 Class A Ordinary Shares upon the automatic exercise immediately prior to the Closing of the GSR III Rights to acquire one GSR III    
 Class A Ordinary Share. The issuance of the shares resulted in a $0 adjustment within the GSR III Class A Ordinary Share,            
 par value $0.0001 and additional paid-in capital line items, respectively, due to the effect of rounding as the adjustment to record 
 the shares at par value and associated adjustment to additional paid-in capital were less than $1 thousand, respectively.            |

| (k) | To reflect the payment on the Closing Date of the $219.0                                                                    
 thousand premium for a directors’ and officers’ tail insurance policy. This adjustment increases accumulated deficit as the 
 premium is related to activity prior to the Closing.                                                                        |

| (l) | To reflect the payment of a $1.3 million premium on the Closing                                                                              
 Date for a prepaid directors’ and officers’ insurance policy for PubCo. Additionally, to recognize the present value of a                    
 second $1.3 million premium payment, which is due six months after closing, as an accrual in accrued expenses and other current liabilities. |

| (m) | To reflect that immediately prior to the Closing, 549,500                                                                             
 GSR III Class B Ordinary Shares held by the Sponsor become subject to certain vesting or forfeiture conditions. The vesting           
 will be triggered contingent upon various milestones being met subsequent to the Closing. Refer to the Introduction section above for 
 a description of the various milestones.                                                                                              |

The shares that will be subject to the vesting are contingently
forfeitable based on the non-achievement of the milestones and will be forfeited by the Sponsor if the milestones are not met within the
Conversion Period, as discussed further in the Introduction section above. As the shares may be forfeited, management has concluded that
they should be evaluated, accounted for, and classified, as a freestanding equity linked instrument, rather than as outstanding shares.

Management has concluded that the change of control provision
and the permit-driven performance target milestones described in the Introduction section above cause the freestanding equity-linked instrument
to not be considered indexed to PubCo’s own