Company: INV
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052035
Chunk: 35

Company: Innventure, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 35
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 terms of these unsecured promissory notes on October 1, 2024. As per the original agreements, the note with the first party contained a loan fee of $1,000 which was payable with the repayment of the principal amount of the note and the note with the second party contained interest at the rate of 11.50% per annum. 

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Table of ContentsInnventure, Inc. and SubsidiariesNotes to Condensed Consolidated Financial Statements(Unaudited) (in thousands, except share or per share data)

As per the amended note with the first party, the maturity date was extended to the earlier of (i) January 31, 2025 or (ii) the first business day following the date on which the Company has sufficient capital to be able to repay all amounts outstanding under the note and otherwise meet its expected working capital needs as determined by the Company in its reasonable discretion. The loan fee of $1,000, required under the original agreement, became due on or around the amendment date and interest will accrue at the rate of 15.99% per annum until paid. The amendment was accounted for as a troubled debt restructuring as the Company was provided a concession through a decrease in the effective interest rate. However, no gain or loss was recognized as a result.As per the amended note with the second party, the maturity date was extended to January 31, 2025 and the interest rate was increased to 13.50% per annum. Additionally, $1,000 of the principal amount became due on or around the amendment date.Interest expense on the related party notes was as follows:Three months endedNine months endedSeptember 30, 2025 (Successor)September 30, 2024 (Predecessor)September 30, 2025 (Successor)September 30, 2024 (Predecessor)Total interest expense$— $— $419 $— In addition to the related party notes above, the Company also had a related party note for $1,000 through an unsecured promissory note with an additional related party dated May 2, 2024. As per the terms of the executed agreement, the principal amount became due on December 21, 2024 and interest will accrue at the rate of 8.00% per annum. Upon maturity, the Company is required to repay the outstanding principal amount of $1,000 and a loan fee equal to approximately $