Company: NKLR
Filing Date: 2025-09-03
Form Type: S-4/A
Source: 0001213900-25-084087
Chunk: 222

Company: Terra Innovatum Global N.V.
Filing Date: 2025-09-03
Form: S-4/A
Chunk 222
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 offering. Opinion of GSR III’s Financial Advisor GSR III retained ERShares to render an opinion to the GSR III board of directors as to the fairness, from a financial point of view to GSR III and to the shareholders of GSR III (other than the Sponsor or any of its affiliates) of the Transaction Consideration (as defined below) to be issued or paid to such shareholders in the Business Combination. For the purposes of this section, “ Transaction Consideration” means the PubCo Class A Ordinary Shares to be issued in exchange for the GSR III Class A Ordinary Shares at the Merger Effective Time. GSR III selected ERShares to provide a fairness opinion based on ERShares’ qualifications, experience and reputation. ERShares delivered its oral opinion to the GSR III board of directors, subsequently confirmed in writing on April 08, 2025 (the “ Opinion”), which sets forth, among other things, the procedures followed, assumptions made, matters considered, and qualifications and limitations on the scope of review undertaken in rendering the Opinion, which is attached to this proxy statement/prospectus as Annex E and is hereby incorporated by reference. The Opinion confirmed that, as of April 07, 2025, the Transaction Consideration to be issued or paid to the shareholders of GSR III is fair from a financial point of view to GSR III and the shareholders of GSR III, other than the Sponsor and any of its affiliates. The opinion was subsequently re -affirmedon April 21, 2025 prior to the execution of the Business Combination Agreement (“BCA”). The Opinion does not constitute a recommendation to the relevant directors and officers of GSR III or to any other persons in respect of the Business Combination, including as to how any holders of SPAC Class A Ordinary Shares should vote or act in respect of the Business Combination. In connection with its analyses in rendering the Opinion, ERShares, among other things: •Reviewed the financial terms and conditions of the proposed Business Combination set forth in the draft Business Combination Agreement circulated on April10, 2025; •Reviewed certain operating and financial information, that were provided to ERShares by management of the Company; •Reviewed certain guideline public companies and precedent transactions which ERShares viewed as having attributes similar to the Company; •Reviewed other publicly available industry information (i.e., various equity analyst reports, macroeconomic reports, and public information about guideline companies), available from databases such as S&P Capital IQ (“ CapIQ”); and •Engaged in confirmatory discussions