Company: INV
Filing Date: 2025-10-06
Form Type: 8-K
Source: 0001140361-25-037342
Chunk: 1

Company: Innventure, Inc.
Filing Date: 2025-10-06
Form: 8-K
Item: Item 8.01
Chunk 1
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Item 8.01      Other Events.  

JCI Investment in Accelsius

On October 2, 2025 (the “ Closing” or “ Closing Date”), Accelsius Holdings LLC (“ Accelsius”), a subsidiary of the Company, issued and
sold to Johnson Controls, Inc., a Wisconsin corporation (“JCI”), 685,163 units of Accelsius’s Series B-1 Units (the “Series B-1 Units”). The gross proceeds to the Company from the Closing were approximately $25,000,000 before deducting financial advisor fees and other
estimated offering expenses.

Accelsius will use the proceeds from the sale of the Series B-1 Units for general company purposes. Upon consummation of the Closing, certain outstanding convertible
notes and other indebtedness of Accelsius that is automatically convertible into equity securities of Accelsius will automatically convert into equity securities of Accelsius in accordance with their terms. The Series B-1 Units are convertible
at any time and from time to time into Accelsius’s Class A Common Units by dividing the Series B-1 Unit’s Issue Price (as defined below) by the Conversion Price (as defined below) in effect at the time of conversion. The “ Issue Price” means
$36.4877 per unit, subject to appropriate adjustment in the event of any unit dividend, unit split, combination or other similar recapitalization with respect to the applicable Series B-1 Units. The “ Conversion Price” shall initially equal
$36.4877 and will be subject to certain adjustments.

The securities have not been registered under the Securities Act of 1933, as amended (the “ Securities Act”), and may not be offered or sold absent registration or an applicable exemption from registration requirements.

Rights Provided to JCI

In connection with the Closing, Accelsius amended its limited liability company agreement (“ Operating Agreement”) to provide for certain rights to JCI with respect to the Series B-1 Units.

Management Rights

For so long as JCI and its affiliates continue to beneficially own an aggregate of at least 50% of the Series B-1 Units purchased by JCI (subject to appropriate
adjustment for any unit splits, unit dividends, combinations, recapitalizations and the like or any conversion), JCI will be entitled to designate and remove one director (the “ Preferred Director”). Each director will be entitled to one vote on all matters that come before the board of directors of Accelsius (the “ Board”). The Preferred Director will be entitled in such person’s discretion