Company: INV
Filing Date: 2025-04-15
Form Type: S-1
Source: 0001628280-25-017890
Chunk: 135

Company: Innventure, Inc.
Filing Date: 2025-04-15
Form: S-1
Chunk 135
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Closing, the closing price of the Common Stock equals or exceeds $12.00 per share (as adjusted for share sub-

divisions, share capitalizations, share consolidations, reorganizations, recapitalizations and the like) for any 20

trading days within any 30-trading day period commencing at least 150 days after the Business Combination, the

shares of Common Stock held by the parties to the 2021 Letter Agreement or their permitted transferees will be

released from lock-up.

Employee Family Relationship

Mr. Colin Scott (the son of Dr. John Scott, our Chief Strategy Officer) is an employee of Innventure and serves

on the Accelsius board of directors. Mr. Colin Scott earned $325 and $216 for the years ended December 31, 2024

and 2023, respectively.

Aircraft Time Sharing Agreements

On May 6, 2024, Innventure LLC entered into aircraft time sharing agreements with entities affiliated with

Michael Otworth and John Scott, each of whom owns a partial interest in a private airplane, whereby they, as partial

owners of the plane, would be reimbursed for its use by Innventure LLC and its employees and directors. Such

reimbursements are only to be granted for Innventure LLC business use. The aircraft time sharing agreements each

have an initial term of one year and automatically renew for one month terms until terminated by either party. Each

agreement may be terminated by either party with 30 days’ prior written notice. In 2024, Innventure LLC made

reimbursements to each of Mr. Otworth and Dr. Scott in the amounts of $142 and $122, respectively. Mr. Otworth

was the Executive Chairman of Innventure LLC and is now Innventure’s Executive Chairman. Dr. Scott was the

Chief Strategy Officer of Innventure LLC and is now Innventure’s Chief Strategy Officer.

Bridge Financing

On August 20, 2024, pursuant to an unsecured promissory note (the “Glockner Bridge Note”), Innventure LLC

borrowed $10,000 from Glockner Family Venture Fund, LP (the “Glockner Lender”), a Florida limited partnership

affiliated with Glockner Enterprises, as bridge financing until the Closing of the Transactions. The outstanding

principal amount and loan fee were due upon the later of October 15, 2024 or the first business day following

Closing. The Glockner