Company: INV
Filing Date: 2025-10-23
Form Type: S-1
Source: 0001140361-25-039085
Chunk: 137

Company: Innventure, Inc.
Filing Date: 2025-10-23
Form: S-1
Chunk 137
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 On September 18, 2025, the Innventure Convertible Line of Credit was amended to convert approximately $550 of accrued interest into Series A Units of Accelsius and to amend the optional conversion terms. Outstanding principal amounts accrue interest at the annual applicable federal rate published by the IRS and are adjusted quarterly. In lieu of repayment in cash, at its option, Innventure may convert the outstanding principal amount of the term loans and any unpaid accrued interest, fees and expenses into the same class or series of equity securities of Accelsius issued in a bona fide equity financing occurring after April 1, 2025 with proceeds to Accelsius of at least $3,000 that is primarily for capital raising purposes. On October 2, 2025, in connection with the JCI Closing, a Qualified Financing (as defined therein) occurred, and the loan became convertible into Series B-1 Units (as defined below). To date, Accelsius has borrowed $19,260 in the aggregate, of which $12,000 of principal has been repaid and $500 of accrued unpaid interest has been converted into Series A Units of Accelsius. As of September 30, 2025, approximately $7,560 was outstanding under the 79 TABLE OF CONTENTS Innventure Convertible Line of Credit, including $147 of accrued interest. As described elsewhere in this prospectus, all intercompany transactions and balances have been eliminated in consolidation, including those related to the Innventure Convertible Line of Credit with Accelsius. To date, Innventure LLC has informally loaned Refinity Holdings $2,831. On December 21, 2023, Mike Otworth, Innventure LLC’s Executive Chairman, loaned the Company approximately $1,000 for working capital purposes. The Company issued a note payable representing that loan in the amount of $1,000 during the year ended December 31, 2023, which is included in notes payable to related parties in the consolidated balance sheets as of December 31, 2023. The related party note had no stated interest and no stated maturity date at issuance. In May 2024, the Company executed an unsecured promissory note (the “Otworth Promissory Note”) which provides that the indebtedness has no stated interest and matures on December 21, 2024. Per the executed agreement, on the maturity date, the Company is required to repay the outstanding principal amount of the related party note and a loan fee equal to $63