Company: NKLR
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111171
Chunk: 28

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 to apply only upon
termination of the Merger and entitles lenders to the greater of 150% of the conversion price, as defined, or a pro rata share of the
equity issuer’s assets based on their ownership percentage. Upon consummation of the Merger, the liquidation preference will terminate.
The amendment defines the coverage amount as 100% of the total number of shares issued upon conversion. Following the Merger, lenders
will receive two sets of warrants to subscribe to a number of ordinary shares of the Company equal to the coverage amount, priced at $11.50
and $15.00 per share respectively. These warrants are exercisable within 36 months and do not include anti-dilution rights.

Additionally, lenders are obligated
to use their best efforts to actively support PIPE fundraising efforts and will earn a 3% commission on the funds raised through their
efforts, payable in cash or ordinary shares of Terra Innovatum Global at the applicable conversion price if the Merger is consummated.

Senior Advisor Agreement

In August 2025, we entered
into a senior advisor agreement with Alex Spiro who will engage as an independent contractor to serve as a strategic advisor and promoter
for the Company, particularly in connection with the Merger. The term of the agreement is 36 months and outlines Mr. Spiro’s responsibilities,
including strategic advisory, business development, investor introductions, and support for commercial agreements related to SOLO. Compensation
includes a one-time grant of 180,000 restricted shares in the post-combination public entity (vesting over 36 months) and 1% commission
on qualifying new business he originates.

20

Advisory Engagement with B. Riley Securities

In September 2025, Terra
Innovatum Global N.V. entered into an agreement with B. Riley Securities, Inc. (“B. Riley”) to serve as its financial advisor
in connection with the Company’s business combination and transition to a public company. The engagement commenced retroactively
on August 19, 2025, and is set for a 12-month term, subject to termination by either party with 10 days’ written notice.

Under the terms of the agreement,
the following cash fees are due:

●$150, that was paid immediately
upon the close of the business combination;

●$125, payable 90 days after
the close;

●$125, payable 180 days after
the close.

These fees are in consideration
of B