Company: NKLR
Filing Date: 2025-09-03
Form Type: S-4/A
Source: 0001213900-25-084087
Chunk: 227

Company: Terra Innovatum Global N.V.
Filing Date: 2025-09-03
Form: S-4/A
Chunk 227
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 the Company. •Reverse Merger: Among transactions falling into the Energy category, ERShares selected transactions resulting in a previously privately owned company being merged into a public shell through a reverse merger. ERShares considered these types of transactions to be similar to the proposed Business Combination, given the similarities these companies had to the business line of the Company. •Early -Stageand Late -StageInvestments: Among transactions falling into the Energy category, ERShares selected transactions resulting in an investment in a privately owned company being an investment in the early stages or late stages of the company. ERShares considered these types of transactions to be similar to the proposed Business Combination, given the similarities these companies had to the Business Line of the Company. •Completed Transactions after 2020: Among transactions falling into the Healthcare category, ERShares selected transactions completed after 2020 involving formerly privately owned companies. ERShares considered these types of transactions to be similar to the proposed Business Combination, given the similarities in the market conditions in which these transactions were completed. •Business Status — Product Development: Among transactions falling into the Energy category, ERShares selected transactions involving privately owned companies that were having a Business Status of Product Development. ERShares considered these types of transactions to be similar to the proposed Business Combination, given the similarities these companies had to the business line of the Company. For each of the Comparable transactions identified above, a valuation range of $339 Million to $654 Million was determined for Terra Innovatum’s consolidated potential future business, based on the Mean and Median Market pre -moneyenterprise valuation of the 10 companies identified above. The pre -moneyenterprise valuation of the 10 Companies derived, were reflected in public filings made by the companies involved in the GTM Guideline Transactions and data made available by Pitchbook as of the date of valuation. Based on the derived valuation range of approximately $339 Million to $654 Million, the transaction based on a pre -moneytotal enterprise value of $475 Million fell within the derived valuation range and was deemed to be fair from a financial point of view under this methodology. Miscellaneous The foregoing summary of certain financial analyses does not purport to be a complete description of the analyses or data presented by ERShares and is qualified in its entirety by reference to the full text of the Opinion, which is as attached as Annex E to this proxy statement/prospectus. In connection with the evaluation of the Transaction Consideration, ERShares performed a variety of financial and comparative analyses for the purpose of rendering the Opinion. The preparation of a fairness opinion is a complex