Company: INV
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040379
Chunk: 40

Company: Innventure, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 40
---
 notes were as follows:Three months endedSix months endedInterest RateJune 30, 2025 (Successor)June 30, 2024 (Predecessor)June 30, 2025 (Successor)June 30, 2024 (Predecessor)Principal amount of 1st extension promissory notes12%$— $— $— $122 Principal amount of 2nd extension promissory notes15%$— $— $122 $300 Interest expense on Series 1 promissory notes was as follows:Three months endedSix months endedJune 30, 2025 (Successor)June 30, 2024 (Predecessor)June 30, 2025 (Successor)June 30, 2024 (Predecessor)Interest attributable to contractual interest$16 $44 $48 $99 Related Party NotesThe Company entered into unsecured promissory notes with two related parties, the first on August 20, 2024, for a principal amount of $10,000, and the second on August 22, 2024, for a principal amount of $2,000. The Company entered into amended and restated agreements to amend the terms of these unsecured promissory notes on October 1, 2024. As per the original agreements, the note with the first party contained a loan fee of $1,000 which was payable with the repayment of the principal amount of the note and the note with the second party contained interest at the rate of 11.50% per annum. As per the amended note with the first party, the maturity date was extended to the earlier of (i) January 31, 2025 and (ii) the first business day following the date on which the Company has sufficient capital to be able to repay all amounts outstanding under the note and otherwise meet its expected working capital needs as determined by the Company in its reasonable discretion. The loan fee of $1,000, required under the original agreement, became due on or around the amendment date and interest will accrue at the rate of 15.99% per annum until paid. The amendment was accounted for as a troubled debt restructuring as the Company was provided a concession through a decrease in the effective interest rate. However, no gain or loss was recognized as a result.As per the amended note with the second party, the maturity date was extended to January 31