Company: NKLR
Filing Date: 2025-09-16
Form Type: 424B3
Source: 0001213900-25-087981
Chunk: 189

Company: Terra Innovatum Global N.V.
Filing Date: 2025-09-16
Form: 424B3
Chunk 189
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 follow -upmeeting over Zoom to continue discussing Terra Innovatum’s business, as well as GSR III presenting to Terra Innovatum what a SPAC transaction would entail. GSR III indicated it would need to perform a valuation analysis that was primarily based on a comparison to the three existing public SMR companies, and that GSR III would also require a fairness opinion from an independent third -partyvaluation firm before entering into a formal transaction with Terra Innovatum. On November 29, 2024, Terra Innovatum sent the counter -signedNDA to GSR III, as well as a list of questions that Terra Innovatum asked GSR III, including clarification on fees and expenses, as well as the impact of various potential fundraising strategies. On December 2, 2024, GSR III held a call with PAC to discuss various due diligence topics and expected process. On the same day, GSR III also held a follow -upcall with Terra Innovatum to continue discussing Terra Innovatum’s business, technology and key differentiators vs other SMR companies 70

On December 3, 2024, GSR III held a call with PAC to discuss various due diligence topics and expected process. On December 6, 2024, GSR III held a follow -upcall with PAC to continue diligence discussions. On December 10, 2024 and December 11, 2024, GSR III and Terra Innovatum held two detailed calls on the competitive landscape of SMR companies and how Terra Innovatum compared to various SMR companies, including reactor sizes, reactor power outputs, types of coolant used, type of fuel used, expected commercialization date, funding raised to date, number of employees, disclosed safety and safeguard measures, management experience, method of assembly and numerous other factors. On December 12, 2024, GSR III and PAC held a call to preview GSR III’s thoughts on Terra Innovatum’s valuation. GSR III proposed a valuation comprised of 45million shares to Terra Innovatum at closing and an additional 75million shares that would be issued at various stock prices and/or milestones, which balanced several advantages that Terra Innovatum had relative to the existing public SMR companies that would support a premium valuation for Terra Innovatum, including but not limited to Terra Innovatum’s expected commercialization date and ability to utilize LEU fuel, while also recognizing the latest and average trading values as of that time of the three public SMR companies. GSR III arrived at Terra Innov