Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 293

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 293
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 Q3 2025 Bridge Loan Conversion happens at the time
of the Merger, the shares will be priced at $7.00 each. If the Merger does not occur by April 30, 2026, the August Bridge Loan Conversion
price will instead be based on a valuation of $100,000,000 divided by the fully diluted equity of Terra. If the Merger is successful,
the shares will be issued by Terra Innovatum Global; if not, they will be issued by Terra or its parent company. If the Merger is completed,
Terra is released from its obligations, and Terra Innovatum Global assumes them. If the Merger is not completed, the lenders are also
entitled to a liquidation preference for shares received upon conversion, the lender is also entitled to a liquidation preference, receiving
either 150% of the conversion price or a pro rata share of the liquidation proceeds, whichever is greater.

Bridge Loan Amendments

In August 2025, the Company amended the Bridge
Loan agreements. The liquidation preference in each agreement was modified to apply only upon termination of the Merger and entitles lenders
to the greater of 150% of the conversion price, as defined, or a pro rata share of the equity issuer’s assets based on their ownership
percentage. Upon consummation of the Merger, the liquidation preference will terminate. The amendment defines the coverage amount as 100%
of the total number of shares issued upon conversion. Following the Merger, lenders will receive two sets of warrants to subscribe to
a number of ordinary shares of the Company equal to the coverage amount, priced at $11.50 and $15.00 per share respectively. These warrants
are exercisable within 36 months and do not include anti-dilution rights. Additionally, lenders are obligated to use their best efforts
to actively support PIPE fundraising efforts and will earn a 3% commission on the funds raised through their efforts, payable in cash
or ordinary shares of Terra Innovatum Global N.V. at the applicable conversion price if the Merger is consummated.

Conversion of Bridge Loans

Upon the closing of the Merger, all of the Bridge
Loans (the Q3 Bridge Loans and the Bridge Loans discussed in Note 8. Bridge Loans and Warrants) were converted into an aggregate of 851,483
ordinary shares of Terra Innovatum Global N.V. at a conversion price of $7.00 per share. In connection with the