Company: NKLR
Filing Date: 2025-12-16
Form Type: 424B3
Source: 0001213900-25-121900
Chunk: 230

Company: Terra Innovatum Global N.V.
Filing Date: 2025-12-16
Form: 424B3
Chunk 230
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 Company in consideration for 5,750,000 Class B ordinary shares of the Company (after
giving effect to a share surrender effected on June 5, 2024). The initial shareholders have not forfeited Founder Shares as the over-allotment
option was exercised in full by the underwriter. The Founder Shares represent 20.0% of the Company’s issued and outstanding shares
after the Initial Public Offering.

On November 8, 2024, the Sponsor
transferred 30,000 Founder Shares to each of its three independent directors (10,000 Founder Shares per director) of the Company, at
a price of $0.004348 per share. Each buyer paid $43.48 for an aggregate purchase price of $130.44 in consideration of the assignment
of shares. If the director ceases to be a director of the Company for any reason before the consummation of the Business Combination,
at the Sponsor’s election, it will either repurchase the shares at the purchase price or forfeit the shares back to the Company
for no consideration. The Founder Shares will automatically convert into shares of Class A ordinary shares at the time of the Business
Combination on a one-for-one basis, subject to adjustment as described in the Company’s certificate of incorporation.

Additionally, on December 19,
2024, the Sponsor transferred another 225,000 Founder Shares to another member of the management team at a price of $0.004348 per share
for an aggregate purchase price of $978.30.

The sale of the Founder Shares
to the Company’s directors and director’s nominees by the Sponsor is in the scope of FASB ASC Topic 718, “Compensation-Stock
Compensation” (“ASC 718”). Under ASC 718, stock-based compensation associated with equity-classified awards is measured
at fair value upon the grant date. The fair value of the 255,000 shares granted to the Company’s directors and management person
was at the acquisition price per share of $0.004348.

The Founder Shares were granted
subject to a performance condition (i.e., the occurrence of a Business Combination). Compensation expense related to the Founders Shares
is recognized only when the performance condition is probable of occurrence under the applicable accounting literature in this circumstance.
Stock-based compensation would be recognized at the date a Business Combination is considered probable (i.e., upon consummation of a
Business Combination) in an amount equal to the number of Founders Shares times the