Company: NKLR
Filing Date: 2025-12-16
Form Type: 424B3
Source: 0001213900-25-121900
Chunk: 72

Company: Terra Innovatum Global N.V.
Filing Date: 2025-12-16
Form: 424B3
Chunk 72
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 each of the lenders entered into an unsecured debt note subscription
agreement. In accordance with the terms of the agreements, the Q3 2025 Bridge Loans bear interest at a fixed annual rate of 15%, PIK
and calculated on the outstanding principal balance. The Q3 2025 Bridge Loans mature one year from their respective issuance dates and
are subject to mandatory early redemption upon the consummation of a qualifying business combination, such as the Merger. In such an
event, all accrued and unaccrued interest becomes immediately due and payable on the 30th day following the completion of the qualifying
transaction.

In August and September 2025,
the Company entered into letter agreements to convert the Q3 2025 Bridge Loans into ordinary shares of Terra Innovatum Global N.V. if
the Merger is completed (the “Q3 2025 Bridge Loan Conversion”). Per the terms of the agreements, if the 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 divided by the fully diluted equity of Terra.
If the Merger is successful, the shares will be issued by Terra Innovatum Global N.V.; 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 N.V. 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, we amended
our Bridge Loan agreements that were in effect at the time. 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