Company: INV
Filing Date: 2025-08-14
Form Type: 424B3
Source: 0001628280-25-040412
Chunk: 23

Company: Innventure, Inc.
Filing Date: 2025-08-14
Form: 424B3
Chunk 23
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 debt securities - AFS was automatically converted into Class D preferred units in accordance with the loan agreement. Prior to the conversion, the fair value was estimated using a Black Scholes model. Post conversion, the fair value is estimated using a discounted cash flow model by discounting the contractual debt cash flows at a rate incorporating the credit risk of AeroFlexx.

The initial fair value of the 2025 WTI Warrants (as defined and further described below) was determined using a Monte Carlo valuation model in which the future stock price is simulated assuming a Geometric Brownian Motion in a risk-neutral framework. The model utilizes significant assumptions including stock price, stock price volatility and credit spread. Specifically, the initial valuation as of the April 14, 2025 issuance date considered a stock price of

<div align='center'>19</div>

#### Innventure, Inc. and Subsidiaries

### Notes to Condensed Consolidated Financial Statements
<div align='center'>(Unaudited) (in thousands, except share or per share data)</div>

$3.65, stock price volatility of 57.00%, and credit spread of 27.70%. 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 Lenders may exchange the 2025 WTI Warrants for a total cash payment of $3,000 after the 10-year anniversary of issuance. The risk-free interest rate was determined by reference to the U.S. Treasury yield curve.

For further information on the Earnout Shares (as defined below), 2024 WTI Warrants (as defined below), and 2025 WTI Warrants, refer to Note 9. Earnout Shares and Note 10. Warrants.

#### Note 5. Borrowings
| Series 1 promissory notes                                |     |  Maturities 
 2025 - 2026 |     | June 30, 2025 |     425 |     | Interest Rates 
 15%            |     | December 31, 2024 |     725 |     | Interest Rates 
 12% - 15%      |
|:---------------------------------------------------------|:----|------------:|:----|:--------------|--------:|:----|:---------------|:----|:------------------|--------:|:----|:---------------|
| Related party notes                                      |     |           — |     |