Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 141

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 141
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 directly attributable to the offering and were expensed as incurred. This is a non-recurring item.                                       |

| (b) | To reflect expense recognized for the directors’ and   
 officers’ tail insurance policy recorded in Note 3(k). |

| (c) | To reflect the removal of the previously recognized income                                                    
 from GSR III’s cash and investments held in Trust Account as the Trust Account was released upon the Closing. |

| (d) | To reflect the transaction costs of Terra Innovatum of $3.8 million                                                                         
 for certain strategic advisory fees, legal and tax structuring services, accounting and audit services for historical financial statements, 
 and marketing and investor relations costs. None of these services were specific incremental costs directly attributable to the offering    
 and were expensed as incurred. This is a non-recurring item.                                                                                |

| (f) | To reflect the recognition of stock-based compensation upon                                                                           
 the satisfaction of a performance condition (the Closing of the Business Combination) associated with the transfer of certain GSR III 
 Class B Ordinary Shares.                                                                                                              |

In November 2024, the Sponsor transferred a total of
30,000 GSR III Class B Ordinary Shares to three independent directors (10,000 each) at a purchase price of $0.00438 per share.
Additionally, in December 2024, the Sponsor transferred 225,000 GSR III Class B Ordinary Shares to a member of the management
team, also at a purchase price of $0.00438 per share. Although the shares were legally transferred in 2024, the awards were subject to
a performance condition (the Closing of the Business Combination). As such, in accordance with ASC 718, stock-based compensation
was not recognized until the Closing, when the performance condition was satisfied.

The grant date fair value of the shares was determined to
be $0.00438 per share, equal to the amount paid by the recipients. As a result, the total stock-based compensation expense recognized
was $0, as the fair value of the awards was fully offset by the amount initially received for the purchase of the shares.

| (g) | To reflect the reversal of Terra Innovatum’s historical                                                                                
 interest expense of $189.0 thousand for the Bridge Loans for the six months ended June 30, 2025, as the unaudited pro forma            
 condensed combined statement of operations for the six months ended June 30, 2025 reflects adjustments assuming that the adjustment    
 reflecting the