Company: INV
Filing Date: 2025-04-23
Form Type: 424B3
Source: 0001628280-25-019358
Chunk: 180

Company: Innventure, Inc.
Filing Date: 2025-04-23
Form: 424B3
Chunk 180
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 Notes were settled in March 2024 due to conversion of the 2025 Notes in a qualified financing. A summary of the significant unobservable inputs utilized to estimate the fair value is as follows:

| Embedded derivative within 2025 Note issued August 18, 2022 with a principal balance of$4,000                              | Settlement |     | December 31,2023 |
| Discount Rate..........................................................................................................    | 35%        |     | 35%-36%          |
| Probability of Expected Outcomes                                                                                           |            |     |                  |
| Financing..............................................................................................................    | 100%       |     | 95%              |
| Change in control..................................................................................................        | —%         |     | 3%               |
| Other..................................................................................................................... | —%         |     | 2%               |
| Embedded derivative within 2025 Notes issued June 7 & July 3, 2023 with anaggregate principal balance of$2,000             |            |     |                  |
| Discount Rate..........................................................................................................    | 71%-87%    |     | 71%-88%          |
| Probability of Expected Outcomes                                                                                           |            |     |                  |
| Financing..............................................................................................................    | 100%       |     | 95%              |
| Change in control..................................................................................................        | —%         |     | 3%               |
| Other..................................................................................................................... | —%         |     | 2%               |

Significant increases or decreases to any of these inputs would result in a significantly higher or lower liability. Investment in debt securities - AFS The investment in debt securities is stated at fair value as described in Note 3. Investments . The terms of the securities are such that they are highly likely to convert into Class D Units of AeroFlexx. The fair value of the debt securities is estimated on an as-converted basis using a Black-Scholes model incorporating breakpoints upon which each tranche of AeroFlexx equity participates in distributions.

|                                                                                                                                | October 2, 2024 |     | December 31,2024 |
| Volatility.................................................................................................................... | 120.00%         |     | 120.00%          |
| Time to liquidity........................................................................................................      | 2 years         |     | 2 years          |
| Discount for lack of marketability.............................................................................                | 18.00%          |     | 31.00%           |
|