Company: NKLR
Filing Date: 2025-12-16
Form Type: 424B3
Source: 0001213900-25-121900
Chunk: 268

Company: Terra Innovatum Global N.V.
Filing Date: 2025-12-16
Form: 424B3
Chunk 268
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 the outstanding principal balance. The 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 30 day
following the completion of the qualifying transaction.

During May, June, August and
September 2025, the company entered into multiple letter agreements to convert the Bridge Loans into ordinary shares of Terra Innovatum
Global, Srl. if the Merger is completed (the “Bridge Loan Conversion”). If the 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 Bridge Loan Conversion
price will instead be based on a valuation of $100,000 divided by the fully diluted equity of Terra Innovatum Global, Srl. If the Merger
is successful, the shares will be issued by the Company; if not, they will be issued by Terra Innovatum, Srl. or its parent company.
If the Merger is completed, Terra Innovatum, Srl. is released from its obligations, and the Company assumes them. The lender is also
entitled to a liquidation preference for shares received upon conversion, receiving either 150% of the conversion price or a pro rata
share of the liquidation proceeds, whichever is greater.

In August 2025, we amended
our 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