Company: NKLR
Filing Date: 2025-12-16
Form Type: 424B3
Source: 0001213900-25-121900
Chunk: 118

Company: Terra Innovatum Global N.V.
Filing Date: 2025-12-16
Form: 424B3
Chunk 118
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 III Class A Ordinary Shares   
 immediately prior to the Closing.                                                                                                      |

| (4) | Consists of (i) 223,000 PubCo Ordinary Shares issued to PAC as a success fee upon the Closing of the                                    
 Business Combination and (ii) 851,483 PubCo Ordinary Shares issued from conversion of the Bridge Loans upon the Closing of the Business 
 Combination.                                                                                                                            |

| (5) | Consists of 3,683,500 PubCo Ordinary Shares issued upon Closing as a result of the PIPE Financing. |

| 2. | Accounting Treatment for the Transaction |

In connection with the Terra Pre-Closing Restructuring,
each issued and outstanding quota of New TopCo converted into PubCo Ordinary Shares at the Common Conversion Ratio. Subsequent to the
Terra Pre-Closing Restructuring, GSR III merged into Terra MergerCo with GSR III surviving and becoming a wholly owned subsidiary of
PubCo. As a result of the merger, GSR III’s issued and outstanding shares converted into PubCo Ordinary Shares on a one-for-one
basis. PubCo’s acquisition of GSR III was accounted for as a recapitalization by/via an asset acquisition in accordance with ASC
805-50, as GSR III does not meet the ASC 805 definition of a business.

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The consideration transferred to the GSR III
shareholders to effect the asset acquisition consists of PubCo Ordinary Shares and contingently issuable PubCo Ordinary Shares. As GSR
III is comprised primarily of monetary assets (Cash and Investments held in Trust Account), the fair value of the aforementioned consideration
transferred is deemed equivalent to GSR III’s net assets. As the consideration transferred is deemed equivalent to the net assets
acquired, the net assets of GSR III will be stated at their carrying values, which are deemed to be stated at their respective fair values,
and no goodwill (or gain or loss) will be recognized.

The conversion of New TopCo’s issued and
outstanding quotas into PubCo Ordinary Shares, which was effected in connection with the aforementioned asset acquisition (a recapitalization
by/via asset acquisition), was accounted for as a recapitalization in accordance with U.S. GAAP. GSR III was treated as the “acquired”
company for accounting purposes and PubCo was treated as the legal and accounting acquirer.

PubCo, which is controlled by legacy Terra Innovatum
Global Quotaholders, has been