Company: INV
Filing Date: 2025-04-14
Form Type: 8-K
Source: 0001628280-25-017703
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Company: Innventure, Inc.
Filing Date: 2025-04-14
Form: 8-K
Item: Item 1.01
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Item 1.01

Entry into a Material Definitive Agreement.

Issuance of First Convertible Debenture

As previously disclosed in the Current Report on Form 8-K filed by Innventure, Inc., a Delaware corporation (the “ Company”) with the Securities and Exchange Commission (the “ SEC”) on March 26, 2025 (the “ Prior Form 8-K”), the Company entered into a securities purchase agreement (the “ Purchase Agreement”) with YA II PN, Ltd. (“ Yorkville”), for the issuance and sale by the Company of convertible debentures (the “ Convertible Debentures”) issuable in an aggregate principal amount of up to $30,000,000, which Convertible Debentures will be convertible into shares of the Company’s common stock, par value $0.0001 per share (the “ Common Stock”) (as converted, the “ Conversion Shares”).

On April 14, 2025 (the “ First Closing Date”), the Company issued a Convertible Debenture to Yorkville with a principal amount of $20,000,000 (the “ First Convertible Debenture”). The First Convertible Debenture will not bear interest unless an event of default occurs and remains uncured, upon which the First Convertible Debenture will bear interest at an annual rate of 18.0%. The First Convertible Debenture will mature on July 14, 2026 (the “ Maturity Date”). The First Convertible Debenture resulted in gross proceeds to the Company of approximately $18,000,000, representing an original issue discount of 10%. The Company will be required to make monthly cash payments of principal in amounts between $1,000,000 and $3,000,000 (as per the schedule set forth in the First Convertible Debenture) plus a payment premium of 5% and all accrued and unpaid interest as of the date of such installment. Such payments will commence 30 days following the First Closing Date and will continue on a monthly basis thereafter until the First Convertible Debenture is repaid in full.

The First Convertible Debenture is convertible at the option of the holder into Common Stock equal to the applicable Conversion Amount (as defined below) divided by the Conversion Price (as defined below). The conversion price for the First Convertible Debenture will initially be $10.00, and will be adjusted on the six-month anniversary of the First Closing Date (the “