Company: INV
Filing Date: 2025-04-23
Form Type: 424B3
Source: 0001628280-25-019356
Chunk: 202

Company: Innventure, Inc.
Filing Date: 2025-04-23
Form: 424B3
Chunk 202
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 risk premium and revenue volatility.

Milestone One

The following table summarizes the unobservable inputs used in estimating the fair value of the Earnout Shares based on revenue for Accelsius (Milestone One):

|                      |     | October 2, 2024 |       |   |
|:---------------------|:----|:----------------|------:|:--|
| Revenue risk premium |     |                 |  6.10 | % |
| Revenue volatility   |     |                 | 44.00 | % |

Milestone Two

Milestone Two is contingent on the Company’s formation of a new subsidiary, in partnership with an MNC, as determined using the Innventure LLC's “DownSelect” process, within the Vesting Period. The probability of achievement based on the Company’s analysis was 98% on October 2, 2024.

Milestone Three

The following table summarizes the unobservable inputs used in estimating the fair value of the Earnout Shares based on revenue for AeroFlexx (Milestone Three):

|                      |     |     | October 2, 2024 |   |     |     | December 31, 2024 |   |
|:---------------------|:----|:----|----------------:|:--|:----|:----|------------------:|:--|
| Revenue risk premium |     |     |           30.60 | % |     |     |             36.10 | % |
| Revenue volatility   |     |     |          165.00 | % |     |     |            176.00 | % |

For further information on the Earnout Shares, refer to Note 10. Earnout Shares.

#### Warrants
The Company issued freestanding warrants to the WTI Lenders in connection with the WTI Facility (as defined and further described in Note 5. Borrowings and Note 11. Warrants). The fair value measurement of WTI Warrants is based on unobservable inputs (Level 3 fair value measurement).

The fair value of the WTI Warrants was determined using a Monte Carlo valuation model in which the future stock price is simulated assuming a GBM in a risk-neutral framework. The model utilizes significant assumptions including stock price, stock price volatility, and credit spread. The credit spread relates to estimated counterparty credit risk of Innventure being able to make payments related to the WTI Lenders’ put right, in which the WTI

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