Company: NKLR
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001213900-25-063846
Chunk: 182

Company: Terra Innovatum Global N.V.
Filing Date: 2025-07-15
Form: S-4/A
Chunk 182
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 Until agreeing to enter into exclusive negotiations with Terra Innovatum, GSR III conducted due diligence to varying degrees on such prospective businesses and assets, including a review of such businesses’ business model, competitive landscape, management and certain financial information, in each case, to the extent available. GSR III reviewed opportunities on a rolling basis and entered into non -disclosureagreements on a selective basis, entering into less than 10 such agreements prior to the agreement with Terra Innovatum. Prior to GSR III entering into a non -bindingletter of intent with Terra Innovatum, and more specifically prior to the exclusivity clause contained in such letter of intent coming into effect, no target evaluated was deemed to appropriately fit GSR III’s criteria. 68 Other than Terra Innovatum, the potential targets that GSR III considered in greater detail included: (i) an online marketplace company; (ii) a renewable hydrogen company; (iii) a solar cells technology company; (iv) a real estate holding company; (v) an electric vehicle company; (vi) a telecom operator; and (vii) an online consumer products company. Over the course of its initial discussions with Terra Innovatum, GSR III determined that Terra Innovatum was a strong target business due to its: (i) substantial total addressable market with the ability to decarbonize both energy and industrial end markets; (ii) pioneering modular design that results in increased safety, scalability and flexible use cases; (iii) highly -experiencedmanagement team; (iv) proprietary nuclear reactor design with patent filed that allowed for the use of LEU in a micro -reactor; (v) targeted commercialization date of 2028, well in advance of most competitors; and (vi) capex -lightbusiness model with attractive cash flow potential. These factors aligned with GSR III’s investment criteria. See the section of this proxy statement/prospectus entitled “The Business Combination Proposal — The GSR III Board’s Reasons for the Approval of the Business Combination” for a further discussion of the GSR III Board’s considerations. The following chronology summarizes the key meetings and events that led to the execution of the LOI (as defined below) and Business Combination Agreement and other ancillary agreements with Terra Innovatum, but it does not purport to catalogue every conversation among representatives of GSR III, Terra Innovatum and their respective advisors. On November14, 2024, representatives of PAC, which at the time were informally working with Terra Innovatum and