Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 75

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 75
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, Terra
Innovatum Global formed Terra MergerCo, a Cayman Islands exempted company, as a direct, wholly owned subsidiary to complete the merger.

Closing Date

On the closing date of the Merger, GSR III
continued as the surviving entity and become a wholly owned subsidiary of Terra Innovatum Global. At the effective time of the merger,
each outstanding ordinary share of GSR III will be exchanged for one ordinary share of Terra Innovatum Global (the “Merger”).

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Bridge Loans

In May and June 2025, we entered into a series
of unsecured debt note subscription agreements (the “Bridge Loans”) with multiple lenders, generating aggregate gross proceeds
of $5,000,000. In accordance with the terms of the agreements, the Bridge Loans bear interest at a fixed annual rate of 15%, payable in
kind (“PIK”) calculated on the outstanding principal balance. The Bridge Loans mature one year from their respective issuance
dates and are subject to mandatory early redemption upon the consummation of a qualifying business combination, such as the Merger. In
such an event, all accrued and unaccrued interest becomes immediately due and payable on the 30 day following the completion
of the qualifying transaction.

During May 2025 and June 2025, we entered
into multiple letter agreements to convert the Bridge Loans into ordinary shares of Terra Innovatum Global if the Merger is completed
(the “Bridge Loan Conversion”). Such letter agreements were further amended in August 2025. 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 April 30, 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 Innovatum Global; if not, they will be issued by Terra or its parent company. If the
Merger is completed, Terra is released from its obligations, and Terra Innovatum Global assumes them. If the Merger is not completed,
the lenders are also entitled to a liquidation preference for shares received upon conversion, receiving either 150% of the conversion
price or a pro rata share of the liquidation proceeds, whichever is greater.

Following the closing of the Business Combination,
the lenders were issued