Company: NKLR
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111171
Chunk: 78

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 2
Chunk 78
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 warrants to
subscribe to a number of ordinary shares of the Company equal to the coverage amount, priced at $11.50 and $15.00 per share respectively.
These warrants are exercisable within 36 months and do not include anti-dilution rights. Additionally, lenders are obligated to use their
best efforts to actively support PIPE fundraising efforts and will earn a 3% commission on the funds raised through their efforts, payable
in cash or ordinary shares of Terra Innovatum Global at the applicable conversion price if the Merger is consummated.

Business Combination and Public Listing

On October 9, 2025, Terra
Innovatum Global consummated its previously announced business combination with GSR III Acquisition Corp. (“GSR III”) pursuant
to the Merger Agreement dated April 21, 2025, among Terra, GSR III, and other parties thereto (the “Merger”).

Pre-Closing Restructuring

Prior to the Merger, Terra
completed a series of restructuring steps (the “Terra Pre-Closing Restructuring”) designed to facilitate the transaction:

●Formation of Terra Innovatum Global, Srl: On April 29, 2025, Terra Innovatum Global was formed with the
same ownership structure as Terra.

●Contribution of Ownership Interests: On June 23, 2025, the quotaholders of Terra contributed 100% of their
ownership interests in Terra to Terra Innovatum Global, resulting in Terra becoming a wholly owned subsidiary of Terra Innovatum Global.

Merger

Following the Merger, Terra
Innovatum Global was converted from an Italian limited liability company into a Dutch public limited company, Terra Innovatum N.V. and
GSR III merged with and into GSR III Cayman Merger Sub, a wholly owned subsidiary, with GSR III surviving as a wholly owned subsidiary
of Terra Innovatum Global N.V. whose ordinary shares commenced trading on The Nasdaq Stock Market LLC under the ticker symbol “NKLR”
on October 10, 2025.

In connection with the Merger,
Terra Innovatum Global N.V.:

●Issued 70,300,948 ordinary shares.

●Received PIPE proceeds totaling $36,790, pursuant to subscription
agreements, consisting of the issuance of 3,683,500 PIPE shares, half warrants to purchase up to 1,841,750 ordinary shares at an exercise
price of $12.00 per share, and quarter warrants to