Company: NKLR
Filing Date: 2025-06-26
Form Type: S-4/A
Source: 0001213900-25-058019
Chunk: 154

Company: Terra Innovatum Global N.V.
Filing Date: 2025-06-26
Form: S-4/A
Chunk 154
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 a taxable transaction for U.S. federal income tax purposes to U.S. holders of GSR III Class A Ordinary Shares. In the opinion of Latham & Watkins LLP, counsel to GSR III, the Terra Pre -ClosingRestructuring and the Merger, taken together with other relevant transactions, should qualify as exchanges described in Section 351 of the Code for U.S. federal income tax purposes, subject to the assumptions, qualifications and limitations described herein and in the opinion included as Exhibit 8.1 hereto. If the Merger so qualifies, a U.S. holder (as defined in the section entitled “ Material U.S. Federal Income Tax Considerations”) generally should not recognize any gain or loss for U.S. federal income tax purposes on the receipt of PubCo Ordinary Shares in exchange for GSR III Class A Ordinary Shares, subject to Section 367(a) of the Code and the PFIC rules. However, because the provisions of Section 351 of the Code are complex and qualification thereunder could be adversely affected by events or actions that occur following the Business Combination that are beyond the control of GSR III or PubCo, the qualification of the Merger for tax deferral under Section 351 of the Code is not free from doubt. For example, if more than 20% of the PubCo Ordinary Shares are subject to an arrangement or agreement to be sold or disposed of at the time of their issuance in the Business Combination, one of the requirements for Section 351 treatment may not be satisfied. If the Merger does not qualify for tax -deferredtreatment under Section 351 of the Code, or if the Merger fails to qualify for tax -deferredtreatment as a result of the application of Section 367(a) Code or the PFIC rules, the Merger would be a taxable transaction to U.S. holders of GSR III Class A Ordinary Shares. For a more complete discussion of the U.S. federal income tax considerations of the Merger, including Section 367(a) of the Code and the PFIC rules, see the section entitled “ Material U.S. Federal Income Tax Considerations — U.S. holders.” The PFIC status of GSR III and / or PubCo could result in adverse U.S. federal income tax consequences to U.S. holders. In general, a non -U.S. corporation is a PFIC for U.S. federal income tax purposes for any taxable year in which (i) 50% or more of the average value of its