Company: NKLR
Filing Date: 2025-09-16
Form Type: 424B3
Source: 0001213900-25-087981
Chunk: 232

Company: Terra Innovatum Global N.V.
Filing Date: 2025-09-16
Form: 424B3
Chunk 232
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 the U.S. holder, results in a “complete termination” of the U.S. holder’s interest in GSR III or is “not essentially equivalent to a dividend” with respect to the U.S. holder. These tests are explained more fully below. In determining whether any of the foregoing tests are satisfied, a U.S. holder takes into account not only stock actually owned by the U.S. holder, but also GSR III Class A Ordinary Shares that are constructively owned by such U.S. holder. A U.S. holder may constructively own, in addition to stock owned directly, stock owned by certain related individuals and entities in which the U.S. holder has an interest or that have an interest in such U.S. holder, as well as any stock the U.S. holder has a right to acquire by exercise of an option, which generally would include ordinary shares that could be acquired pursuant to the exercise of the GSR III Public Rights. In order to meet the substantially disproportionate test, the percentage of GSR III’s outstanding voting shares actually and constructively owned by the U.S. holder immediately following the redemption of GSR III Class A Ordinary Shares must, among other requirements, be less than 80% of the percentage of GSR III’s outstanding voting shares actually and constructively owned by the U.S. holder immediately before the redemption. There will be a complete termination of a U.S. holder’s interest if either all GSR III Class A Ordinary Shares actually and constructively owned by the U.S. holder are redeemed or all GSR III Class A Ordinary Shares actually owned by the U.S. holder are redeemed and the U.S. holder is eligible to waive, and effectively waives in accordance with specific rules, the attribution of stock owned by certain family members and the U.S. holder does not constructively own any other stock. The redemption of GSR III Class A Ordinary Shares will not be essentially 97 equivalent to a dividend if a U.S. holder’s redemption results in a “meaningful reduction” of the U.S. holder’s proportionate interest in GSR III. Whether the redemption will result in a meaningful reduction in a U.S. holder’s proportionate interest in GSR III will depend on the particular facts and circumstances. However, the IRS has indicated in a published ruling that even a small reduction in the proportionate interest of a small minority shareholder in a publicly held corporation who exercises no control over corporate affairs may constitute such a “meaningful reduction.” A U.S. holder should consult