Company: NKLR
Filing Date: 2025-05-14
Form Type: S-4
Source: 0001213900-25-043376
Chunk: 273

Company: Terra Innovatum Global N.V.
Filing Date: 2025-05-14
Form: S-4
Chunk 273
---
 immediately prior to the Closing which will convert on a one -for-onebasis into PubCo Ordinary Shares upon the Closing. The 6,232,857 GSR III Ordinary Shares consists of (i) 5,495,000 GSR III Class B Ordinary Shares held by Sponsor which represents 5,495,000 issued and outstanding GSR III Class B Ordinary Shares held by Sponsor immediately prior to the Closing, including 549,500 Vesting Sponsor Shares, subject to the vesting conditions pursuant to the Business Combination Agreement as the Sponsor will retain voting power with respect to the Vesting Sponsor Shares, (ii) 384,428 and 38,072 GSR III Class A Ordinary Shares held by Sponsor and related parties of Sponsor, respectively, (iii) 255,000 issued and outstanding GSR III Class B Ordinary Shares held by related parties of Sponsor, (iv) 54,918 and 5,439 Private Placement Rights held by Sponsor and related parties of Sponsor, respectively, which will convert on a one -for-one-basisinto GSR III Class A Ordinary Shares immediately prior to the Closing. (5)Consists of 223,000 PubCo Ordinary Shares issued to PAC as a success fee upon the Closing. 2. Accounting Treatment for the Transaction In connection with the Terra Pre -ClosingRestructuring, each issued and outstanding quota of New TopCo will be converted into PubCo Ordinary Shares at the Common Conversion Ratio. Subsequent to the Terra Pre -ClosingRestructuring, GSR III will merge into Terra MergerCo with GSR III surviving and becoming a wholly owned subsidiary of PubCo. As a result of the merger, GSR III’s issued and outstanding shares will be converted into PubCo Ordinary Shares on a one -for-onebasis. PubCo’s acquisition of GSR III will be accounted for as an asset acquisition in accordance with ASC 805 -50, as GSR III does not meet the ASC 805 definition of a business. The net assets of GSR III will be stated at their carrying values, which are deemed to be stated at their respective fair values, and no goodwill will be recognized. As GSR III is comprised primarily of monetary assets (Cash and Investments held in Trust Account), the ____________ 19Consists of PubCo Ordinary Shares issued and outstanding as of the Closing. This amount excludes PubCo Preferred Shares issued to legacy Terra Innovatum Quotaholders and PAC in the amount of 8,000 and 40, respectively.

128