- Proceeds from the financing and SPAC trust, net of redemptions and expenses, will be used to support licensing and construction of Terra Innovatum's first-of-a-kind SOLO™ micro-modular reactor
- Extraordinary general meeting of shareholders to approve proposed business combination is scheduled for October 7, 2025, at 11:00 a.m. ET
- Post-combination company expected to trade on Nasdaq under the ticker symbol NKLR shortly after the closing
NEW YORK and AUSTIN, Texas, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Terra Innovatum Srl ("Terra Innovatum," or the "Company"), a developer of micro-modular nuclear reactors, and GSR III Acquisition Corp. (NASDAQ:GSRT), today announced that they have secured $37.5 million in committed financing in connection with their previously announced business combination. The financing includes approximately $32 million of private investment in public equity ("PIPE") capital, led by Segra Capital Management and supported by strategic and accredited investors, and approximately $5.5 million from a funded bridge facility that will convert to common equity at the closing of the business combination.
"The PIPE investment represents a strong vote of confidence in our technology, commercialization strategy and our trajectory as we aim to enter the public markets next month," said Alessandro Petruzzi, CEO of Terra Innovatum. "The PIPE proceeds will strengthen our balance sheet at close and help us execute on the licensing and commercialization of our first-of-a-kind SOLO™ micro-modular reactor, furthering our mission to create lasting value for shareholders, customers, and communities alike."
GSR III Acquisition Corp. will hold an extraordinary general meeting of shareholders (the "Extraordinary General Meeting") on October 7, 2025, at 11:00 a.m., Eastern Time, to approve the business combination with Terra Innovatum and related matters. The Extraordinary General Meeting will be held virtually and conducted via live webcast at https://www.cstproxy.com/gsriii/2025.
GSRT shareholders of record as of September 15, 2025, are entitled and encouraged to vote at the Extraordinary General Meeting and have received by mail a definitive proxy statement/prospectus (the "Proxy Statement") with instructions on how to vote their shares. Every shareholder vote FOR the business combination is important, regardless of the number of shares held.
GSRT shareholders who need assistance voting, have questions regarding the Extraordinary General Meeting, or would like to request documents may contact GSRT's proxy solicitor Sodali & Co. at (800) 662-5200 (banks and brokers can call (203) 658-9400) or by
If the necessary proposals are approved, Terra Innovatum and GSRT anticipate that the business combination will close shortly after the Extraordinary General Meeting. The post-combination company will operate under the name Terra Innovatum and its common shares are expected to trade on Nasdaq under the ticker symbol "NKLR," subject to the satisfaction of all other listing conditions.
The Benchmark Company served as lead placement agent on the financing.
ABOUT TERRA INNOVATUM & SOLO™Terra Innovatum's mission is to make nuclear power accessible. We deliver simple and safe micro-reactor solutions that are scalable, affordable and deployable anywhere 1 MWe at a time.
Terra Innovatum is a pioneering force in the energy sector, dedicated to delivering innovative and sustainable power solutions. Terra Innovatum plans to leverage cutting-edge nuclear technology through the SOLO™ Micro-Modular Reactor (SMR™) to provide efficient, safe, and environmentally conscious energy. With a mission to address global energy shortages, Terra Innovatum combines extensive expertise in nuclear industry design, manufacturing, and installation licensing to offer disruptive energy solutions. Committed to propelling technological advancements, Terra Innovatum and SOLO™ are dedicated to fostering prosperity and sustainability for humankind.
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