Company: NKLR
Filing Date: 2025-06-26
Form Type: S-4/A
Source: 0001213900-25-058019
Chunk: 328

Company: Terra Innovatum Global N.V.
Filing Date: 2025-06-26
Form: S-4/A
Chunk 328
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 financing in the U.S. capital market to support its working capital after the de -SPACtransaction. However, there is no guarantee that the substantial doubt about our ability to continue as a going concern will be alleviated. Our ability to continue as a going concern is dependent upon our ability to further implement our business plan and generate sufficient revenue and ability to raise additional funds. 166

These accompanying financial statements have been prepared assuming that we will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty. During the year ended December 31, 2024, we entered into the 2024 Loan Agreement with our quotaholders. The total loan amount of $216,212 was provided in full by March 31, 2025. On March 21, 2025, we entered into the 2025 Loan Agreement with our quotaholders. The total loan amount of $220,749 is to be provided in cash installments by April 10, 2025, and matures on December 31, 2040. The maturity is subject to annual extensions until December 31, 2024, unless repayment is requested by the quotaholders. As of March 31, 2025, quotaholders advanced a total of $287,815 related to the 2024 and 2025 Loan Agreements. Bridge Loan During May 2025 and June 2025, we entered into a series of debt note subscription agreements (the “Bridge Loans”) with multiple lenders, raising aggregate gross proceeds of $4,870,000. During May 2025 and June 2025, we entered into multiple letter agreements to convert the Bridge Loans into ordinary shares of Terra Global if the Merger is completed (the “Bridge Loan Conversion”). If the Bridge Loan Conversion happens at the time of the Merger, the shares will be priced at $7.00 each. If the Merger does not occur by April30, 2026, the Bridge Loan Conversion price will instead be based on a valuation of $100,000,000 divided by the fully diluted equity of Terra. If the Merger is successful, the shares will be issued by Terra Global; if not, they will be issued by us or our parent company. If the Merger is completed, we will be released from its obligations, and Terra Global assumes them. The lender is also entitled to a liquidation preference, receiving either 150% of the conversion price or a pro rata