Company: INV
Filing Date: 2025-04-29
Form Type: PRE 14A
Source: 0001628280-25-020657
Chunk: 33

Company: Innventure, Inc.
Filing Date: 2025-04-29
Form: PRE 14A
Chunk 33
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 from time to time until the Maturity Date (as defined in the AeroFlexx Loan Agreement). Additionally, the

aggregate principal amount of $7,600 that Innventure LLC previously loaned to AeroFlexx for working capital pursuant to

interest-free loans that had not previously been formally documented is included as an amount outstanding under the

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AeroFlexx Loan Agreement and subject to the terms of the AeroFlexx Loan Agreement. The aggregate principal amount of

the Term Loans (as defined in the AeroFlexx Loan Agreement) shall not exceed $10,000. The Term Loans covered by the

AeroFlexx Loan Agreement will be guaranteed by AeroFlexx Packaging and will incur interest at the annual applicable

federal rate published by the Internal Revenue Service (the “IRS”) and adjusted quarterly, such interest rate to be increased

by 2.0% upon the occurrence of an Event of Default (as defined in the AeroFlexx Loan Agreement). After any repayment

of all or any portion of the Term Loans, the Term Loans may be re-borrowed. AeroFlexx will have the option to prepay all

or any portion of the Term Loans upon the written consent of Innventure LLC and the Term Loans will be accelerated and

must be prepaid upon the occurrence of an Event of Default. At Innventure LLC’s option, the Term Loans and any unpaid

accrued interest and any fees and expenses owed by AeroFlexx may be converted into Next Equity Securities (as defined in

the AeroFlexx Loan Agreement). As part of the AeroFlexx Loan Agreement, AeroFlexx did not raise equity financing up

to the target amount by January 1, 2025. Therefore, on January 2, 2025, $7,250 of outstanding principal of the then-

outstanding Term Loans and unpaid accrued interest thereon (as calculated per the AeroFlexx Loan Agreement) was

subject to mandatory conversion. Using the price per unit of $6.83, the Company obtained 1,060,747 AeroFlexx Class D

preferred units through the mandatory conversion. Based on the increase of AeroFlexx Class D preferred units,

Innventure’s updated ownership percentage in AeroFlexx is 38%. Additionally, the aggregate principal amount of $7,600

that Innventure LLC previously loaned to AeroFlexx for working capital pursuant to interest-free loans that had not

previously been formally documented is included as an amount outstanding under the AeroFlexx Loan