Company: INV
Filing Date: 2025-10-23
Form Type: S-1
Source: 0001140361-25-039085
Chunk: 198

Company: Innventure, Inc.
Filing Date: 2025-10-23
Form: S-1
Chunk 198
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                     |     |   4,561 |
| Total Debt               |     | $34,725 |

F-24

TABLE OF CONTENTS

Innventure, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except share or per share data) Series 1 Promissory Notes In 2018, the Company authorized the issuance and sale of unsecured promissory notes to investors up to $ 35,000. From 2018 to 2021, the Company issued promissory notes with a total principal amount of $ 4,936. The notes require monthly interest payments, have an original maturity period of 36- 48months, and bear interest at 9%- 12% per annum. The notes contain twoterm extension options, at the Company’s election, which can extend the notes’ maturity period to 60months in total. If the Company elects its first term extension option, the note will bear interest at 12% for months 36through 48. If the Company elects its second term extension option, the notes will bear interest at 15% for months 48through 60. In the event of a change of control or a portfolio company sale, the notes are required to be repaid. In the event of a default, noteholders may elect to convert notes into common units of the Company equal to twotimes the unpaid principal balance plus accrued but unpaid interest at the time of conversion at a pre-money valuation agreed to by a majority of the converting noteholders. If the Company is in default due to lack of payment and the noteholders do not elect repayment, notes will accrue interest at the default rate. During the first 36 months, the default interest rate is 12% and increases to 18% thereafter. Noteholders converted their Series 1 promissory notes into Class B Preferred Units as follows:

|                  |     | Successor         
 October 2, 2024   
 through           
 December 31, 2024 |     |     Predecessor 
 January 1, 2024 
         through 
 October 1, 2024 |     |        Year ended 
 December 31, 2023 |
|:-----------------|:----|:------------------|:----|----------------:|:----|------------------:|
| Principal amount |     | $—                |     |            $396 |     |            $1,310 |
| Number