Company: NKLR
Filing Date: 2025-08-01
Form Type: S-4/A
Source: 0001213900-25-070223
Chunk: 327

Company: Terra Innovatum Global N.V.
Filing Date: 2025-08-01
Form: S-4/A
Chunk 327
---
 ended March31, 2024. As noted in our financial statements, we had an accumulated deficit of $1,484,550 as of March31, 2025. For the years ended December31, 2024 and 2023, we reported a net loss of $33,581 and $4,472, respectively. Net cash used in operating activities was $41,192 and $3,889 for the years ended December31, 2024 and 2023, respectively. As noted in our financial statements, we had an accumulated deficit of $36,862 and $3,281 as of December31, 2024 and 2023, respectively. Business Combination and Public Company Costs On December18, 2024, we entered into an engagement letter with Park Avenue Capital Group Corp. (“PAC”) which was immediately superseded by an agreement to appoint Moonshot Warehouse LTD (“Moonshot”), an affiliate of PAC to provide financial advisory services in connection with the Merger. Under the agreement, Moonshot is engaged to assist with negotiation, structuring, and execution of the business combination, preparation of marketing materials, and securing potential backstop financing. 167 Pursuant to the agreement, we have committed to a retainer fee of $50,000, payable upon execution of the engagement letter, and a LOI signature fee of $25,000, payable upon signing a mutually exclusive letter of intent with a SPAC. Upon the public announcement of the business combination, we will be required to pay an announcement milestone fee of $225,000. Additionally, upon the closing of the business combination, Moonshot will be entitled to (i) a cash success fee of $2,500,000, (ii) 623,000shares of the SPAC/combined entity’s ordinary shares, of which 223,000shares shall be issued at the time of the closing of the business combination and the remaining 400,000shares shall be issued in four tranches, subject to vesting conditions tied to certain milestones, and (iii) one million warrants with a strike price of $7 per share, exercisable within 60months from the business combination closing date. The agreement includes an expense reimbursement provision, under which we are responsible for reasonable, pre -approvedout -of-pocketexpenses incurred by Moonshot, capped at $50,000 unless otherwise agreed. Additionally, we have agreed to indemnify Moonshot for certain liabilities arising from its engagement. Key Factors and Trends Affecting Our Business