Company: NKLR
Filing Date: 2025-12-09
Form Type: S-1/A
Source: 0001213900-25-119411
Chunk: 117

Company: Terra Innovatum Global N.V.
Filing Date: 2025-12-09
Form: S-1/A
Chunk 117
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 as the fair value of the awards was fully offset by the amount initially received for the purchase of the shares. 76

| (s) | To reflect the conversion at Closing of 8,524,394 redeemable                                
 GSR III Class A ordinary shares into 8,524,394 PubCo Ordinary Shares, par value $0.011789   
 per share. The conversion was effected at an aggregate amount of $88.5 million, funded from 
 the remaining cash held in the Trust Account. This amount was recorded as a reduction in    
 redeemable GSR III Class A ordinary shares and a corresponding increase in PubCo Ordinary   
 Shares and additional paid-in capital.                                                      |

The pro forma notes and adjustments, based on preliminary estimates that could change materially as additional information is obtained, are as follows: Pro Forma Transaction Accounting Adjustments:

| (a) | To reflect the transaction costs of GSR III of $167.3 thousand                            
 for accounting and audit services for historical financial statements and other financial 
 services. None of these services were specific incremental costs 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 $2.7 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