Company: NKLR
Filing Date: 2025-06-26
Form Type: S-4/A
Source: 0001213900-25-058019
Chunk: 52

Company: Terra Innovatum Global N.V.
Filing Date: 2025-06-26
Form: S-4/A
Chunk 52
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 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.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 32.5% 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 Quotaholders will own approximately 58.6% of the outstanding PubCo Ordinary Shares; and (iv) unrelated third parties will own approximately 1.2% of the outstanding PubCo Ordinary Shares. 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 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 
 Redemptions Into Cash |    |     |           |   |     |          Assuming 50% 
 Redemptions Into Cash |    |     |           |   |     |      Assuming Maximum 
 Redemptions Into Cash |    |     |           |   |
|                                                                         |     |                Shares |    |     |         % 
 Ownership |   |     |                Shares |    |     |         % 
 Ownership |   |     |                Shares |    |     |         % 
 Ownership |   |
| PubCo Ordinary Shares held by Terra Innovatum Quotaholders(1)           |     |            47,500,000 |    |     |      58.6 | % |     |            47,500,000 |    |     |      68.3 | % |     |            47,500