Company: INV
Filing Date: 2025-05-09
Form Type: ARS
Source: 0001628280-25-024065
Chunk: 128

Company: Innventure, Inc.
Filing Date: 2025-05-09
Form: ARS
Chunk 128
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 within the Vesting Period ("Milestone Two"); and • 20% of the Earnout Shares will vest upon AeroFlexx having received in excess of $15,000 revenue within the Vesting Period ("Milestone Three"). The Sponsor Earnout Shares have a vesting provision that occurs upon a change of control event or upon the occurrence of the VWAP of the shares of Innventure, Inc. Common Stock exceeding $11.50 per share for at least twenty days in any immediately preceding thirty day period (the "VWAP Completion Event"). These vesting conditions are not effective on the Company Earnout shares until 6 months following the Business Combination. Table of Contents Innventure, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except share or per share data) 92

The Earnout Shares related to Milestone One and Milestone Two were determined to be classified as equity. At Closing, 4,275,862 equity-classified Earnout Shares were fair valued at $46,350, inclusive of 2,137,931 Milestone One shares fair valued at $23,175 and 2,137,931 Milestone Two shares fair valued at $23,175 which are presented in Additional paid-in capital on the consolidated balance sheets. The Earnout Shares related to Milestone Three are classified as a liability. At Closing, 1,068,966 liability-classified Earnout Shares were fair valued at $11,352 and subsequently fair valued at $14,752 as of December 31, 2024. The Company recognized a loss of $3,400 in Change in fair value of financial liabilities on the consolidated statements of operations and comprehensive income (loss) for the Successor period from October 2, 2024 through December 31, 2024. Note 11. Warrants Number of Public Warrants Number of Private Warrants Number of WTI Warrants Outstanding, October 2, 2024 (Successor) 11,499,997 7,146,000 — Exercised (259,309) — — Issued — — 2 Outstanding, December 31, 2024 (Successor) 11,240,688 7,146,000 2 There were no warrants outstanding during the Predecessor period from January 1, 2024 through October 1, 2024 nor the Predecessor year ended December 31, 2023. Public and Private Placement Warrants Upon the