Company: NKLR
Filing Date: 2025-08-01
Form Type: S-4/A
Source: 0001213900-25-070223
Chunk: 298

Company: Terra Innovatum Global N.V.
Filing Date: 2025-08-01
Form: S-4/A
Chunk 298
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’s net assets. As the consideration transferred is deemed equivalent to the net assets acquired, the net assets of GSR III will be stated at their carrying values, which are deemed to be stated at their respective fair values, and no goodwill (or gain or loss) will be recognized. The conversion of New TopCo’s issued and outstanding quotas into PubCo Ordinary Shares, which will be effected in connection with the aforementioned asset acquisition (a recapitalization by/via asset acquisition), will be accounted for as a recapitalization in accordance with U.S. GAAP. GSR III will be treated as the “acquired” company for accounting purposes and PubCo will be treated as the legal and accounting acquirer. PubCo, which is controlled by legacy Terra Innovatum Quotaholders, has been determined to be the accounting acquirer based on the following: •Under all redemption scenarios, legacy Terra Innovatum Quotaholders will have a majority of the voting interest in PubCo, with between 58.7% and 77.4% of the voting power held by legacy Terra Innovatum Quotaholders depending on the redemption scenario. •All of the senior management of PubCo will come from the senior management of Terra Innovatum. •Terra Innovatum will appoint a majority of the directors to the board of directors of PubCo. •The intended strategy of PubCo will be to continue to focus on Terra Innovatum’s core service offerings. 3.Adjustments to the Unaudited Pro Forma Condensed Combined Balance Sheet as of March 31, 2025 The pro forma notes and adjustments, based on preliminary estimates that could change materially as additional information is obtained, are as follows: Pro Forma Adjustments for Bridge Loan Financing: (aaa) Subsequent to March 31, 2025, Terra Innovatum issued eleven convertible Bridge Loans for gross cash proceeds of $4.9 million, net of $100.0 thousand in debt issuance costs, resulting in a net cash inflow of $4.8 million. Additionally, in connection with the Bridge Loans, Terra Innovatum committed to issue warrants following the consummation of the Business Combination: These warrants are considered outstanding for financial reporting purposes and are classified as equity or liabilities depending on their terms. •Equity -ClassifiedWarrants: Warrants exercisable at $11.50 or $15.00 per share will be issued upon Closing to certain lenders and qualify for equity classification under ASC 815 -40. $1.