Company: INV
Filing Date: 2025-04-15
Form Type: S-1
Source: 0001628280-25-017890
Chunk: 210

Company: Innventure, Inc.
Filing Date: 2025-04-15
Form: S-1
Chunk 210
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trading, then the exercise price shall be reduced to such lower VWAP.

• If the WTI Lenders choose to exercise the warrants for Subsequent Round Stock, the exercise price shall be

the lowest price per share paid by any person for the Company's equity securities issued in a corresponding

subsequent round.

The WTI Warrants are exercisable at the option of the holders until March 31, 2035, and may be exchanged for

a cash amount of $ 15,000 (subject to ratable reduction for partial exercises) upon the occurrence of certain liquidity

events or at any time from and after October 22, 2028. The holders also have the right to participate in future equity

or convertible debt offerings up to an aggregate amount of $ 5,000 or to maintain their pro rata ownership, subject to

c ustomary exclusions.

The WTI Warrants are considered freestanding financial instruments and are recorded at fair value on the

consolidated balance sheets as a warrant liability. The fair value of the WTI Warrants upon issuance was $ 15,690 .

For the period from issuance to December 31, 2024, the Company recognized a loss of $ 1,540 in Change in fair

value of financial liabilities on the consolidated statements of operations and comprehensive income (loss) . See

Note 4. Fair Value for details on the valuation.

|                                                                   |                   |     |                |     |                 |     |        Successor |
|                                                                   |                   |     |                |     |                 |     | December 31,2024 |
|                                                                   | Number ofWarrants |     | Exercise Price |     | Expiration Date |     |          Balance |
| WTI Warrants..................................................... |                 2 |     | varies         |     | 3/31/2025       |     |          $17,230 |

**F-37

Innventure, Inc. and Subsidiaries

Notes to Consolidated Financial Statements

(in thousands, except share or per share data)

Note 12. Mezzanine Capital

Predecessor period The redemption of Class PCTA Units or Class I Units is not solely in control of the Company and, as such, both classes of units are considered redeemable at the option of the holder. The Class PCTA Units are probable of becoming redeemable and t he Class I Units are currently redeemable. As such, these units are accret