Company: NKLR
Filing Date: 2025-09-11
Form Type: S-4/A
Source: 0001213900-25-086741
Chunk: 55

Company: Terra Innovatum Global N.V.
Filing Date: 2025-09-11
Form: S-4/A
Chunk 55
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 then as of immediately prior to the closing of such Change of Control transaction, half of the PubCo Preferred Shares that have not yet converted shall convert into PubCo Ordinary Shares at the Preferred/Ordinary Conversion Ratio. •Any PubCo Preferred Share that is not converted into PubCo Ordinary Shares during the applicable Conversion Period will remain outstanding, provided that any PubCo Preferred Share that is not converted within 20 years of issuance shall be transferred to PubCo and subsequently cancelled by PubCo for no consideration (om niet). Q.Will the PubCo Preferred Shares have voting rights? Under Dutch law, the PubCo Ordinary Shares will have the same voting rights as the other PubCo Ordinary Shares even before the PubCo Preferred Shares convert. The holders of the PubCo Preferred Shares have agreed pursuant to a written agreement to waive all voting rights for these shares prior to conversion to the extent permitted by Dutch law. They have further agreed to grant the Chief Executive Officer a proxy to vote all such shares on all matters for which voting rights cannot be waived. The Chief Executive Officer will vote such shares in the same proportion as all other PubCo Ordinary Shares are voted so as to have no impact on the result of any proposal put before shareholders. Under Dutch law, the votes underlying each Preferred Share may be apportioned so as to facilitate this proportionate voting. Q.What equity stake will the current shareholders of GSR III and the current quotaholders of Terra Innovatum hold in PubCo immediately after the Closing? A.It is anticipated that, following the Closing, in a no redemption scenario: (i) GSR III’s public shareholders will own approximately 32.4% of the outstanding PubCo Ordinary Shares; (ii) the Sponsor and related parties will own approximately 7.7% of the outstanding PubCo Ordinary Shares; (iii) the Terra Innovatum Global Quotaholders will own approximately 58.7% of the outstanding PubCo Ordinary Shares; and (iv) unrelated third parties will own approximately 1.2% of the outstanding PubCo Ordinary Shares. xxiii

The following table illustrates the estimated ownership levels in PubCo immediately following the consummation of the Business Combination under redemption scenarios, excluding the potential dilutive effects of (i) the additional shares for Terra Innovatum Global Quotaholders and PAC upon conversion of PubCo’s Preferred Shares and (ii) the potentially issuable additional shares for PAC and Bridge Loan lenders underlying the warrants to be issued at Closing in all scenarios:

|                                                                         |     |           Assuming No