Company: INV
Filing Date: 2025-10-23
Form Type: S-1
Source: 0001140361-25-039085
Chunk: 212

Company: Innventure, Inc.
Filing Date: 2025-10-23
Form: S-1
Chunk 212
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 varies depending on the type of stock acquired and certain other conditions.

| • | If the WTI Lenders choose to exercise the warrants for Common Stock, the exercise price is $10.00per share; however, if the volume-weighted average price (VWAP) of the Company’s Common Stock is less than $10.00per share as of the date which iseighteen monthsafter the Company’s Common Stock began 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 $ 5,000or to maintain their pro rata ownership, subject to customary exclusions.

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TABLE OF CONTENTS

Innventure, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except share or per share data) 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 $ 1,540in 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.

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 the Class I Units are currently redeemable. As such, these units are accreted to redemption value at each reporting date. Valuation Class PCTA Units are valued on a monthly basis to align with the underlying