Company: INV
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052035
Chunk: 38

Company: Innventure, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 38
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decessor)Interest attributable to contractual interest$690 $— $2,048 $— Interest attributable to amortization of issuance costs and discounts601 — 1,457 — Total interest expense$1,291 $— $3,505 $— Convertible DebenturesOn March 25, 2025, the Company entered into a securities purchase agreement (“Existing Purchase Agreement”) with Yorkville related to the issuance and sale of convertible debentures (“Existing Convertible Debentures” collectively with the New Convertible Debentures defined below, the “Convertible Debentures”) with an aggregate principal amount of up to $30,000. The Existing Convertible Debentures are convertible into shares of Common Stock and contain certain features that represent embedded derivatives, which are bifurcated and included within Prepaid expenses and other current assets on the condensed consolidated balance sheets. The Company issued the aggregate principal amount of the Existing Convertible Debentures in two tranches tied to separate reporting and filing requirements.On April 14, 2025, the Company issued the first tranche of the Existing Convertible Debentures with a principal amount of $20,000, resulting in cash proceeds to the Company of $18,000, representing an original issue discount of 10%. The first tranche was scheduled to be repaid in twelve monthly payments with a 5% payment premium due to the lender with each payment. Also on April 14, 2025, the Company issued two warrants (the “2025 WTI Warrants”) to purchase, at a price of $0.01 per share (subject to certain limitations and adjustment), up to an aggregate total of 495,074 shares of Common Stock, as of the date of issuance and September 30, 2025 (subject to future adjustments to the number and type of shares pursuant to the 2025 WTI Warrants), to the WTI Holders. Each of the 2025 WTI Warrants is exercisable through March 31, 2035. For further information on the 2025 WTI Warrants, refer to Note 10. Warrants.On May 15, 2025, the Company issued the second tranche of the Existing Convertible Debentures with a principal amount of $10,000, resulting in cash proceeds to the Company of $9,000, representing an original issue discount of 10%. The second tranche was scheduled to be repaid