Company: NKLR
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111171
Chunk: 6

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 6
---
 Global, Srl. as if the
entities had always been combined. (Also, see below in “Contribution of Ownership Interests.”)

On September 29, 2025, the Company established GSR
III Cayman Merger Sub as an exempted company under the laws of the Cayman Islands. The formation was executed to support the transactions
contemplated in the Merger Agreement. GSR III Cayman Merger Sub is a wholly-owned subsidiary of the Company.

Merger

Background

On April 21, 2025, Terra Innovatum, Srl., GSR III,
and such other parties that may become parties entered into the Merger Agreement. The following are the transactions contemplated in the
Merger Agreement:

Pre-Closing Restructuring

Terra Innovatum, Srl. has
undergone a pre-closing restructuring (the “Terra Innovatum, Srl. Pre-Closing Restructuring”):

●Formation of Terra Innovatum Global, Srl.: On
April 29, 2025, Terra Innovatum Global, Srl. was created with the same owners and ownership percentages as Terra Innovatum, Srl.

5

●Contribution of Ownership Interests: On
June 23, 2025, the Terra Innovatum, Srl. quotaholders, who collectively own 100% of both Terra Innovatum Global, Srl. and Terra
Innovatum, Srl. effected the Contribution. As a result of the Contribution, Terra Innovatum, Srl. became a wholly owned subsidiary of
Terra Innovatum Global Srl.

Formation of Terra MergerCo

After the Terra Innovatum, Srl. pre-closing Restructuring,
Terra Innovatum Global, Srl. will form a Cayman Islands exempted company (“Terra MergerCo”) as a direct, wholly owned subsidiary
to complete the merger.

Closing Date

On the closing date of the merger, Terra Innovatum
Global, Srl. will be converted from an Italian limited liability company into a Dutch public limited company named Terra Innovatum Global,
N.V. and GSR III will continue as the surviving entity and become a wholly owned subsidiary of Terra Innovatum Global, Srl. At the
effective time of the Merger, each outstanding ordinary share of GSR III will be exchanged for one ordinary share of Terra Innovatum
Global, Srl. (the “Merger”).

Registration and