Company: INV
Filing Date: 2025-04-15
Form Type: S-1
Source: 0001628280-25-017890
Chunk: 60

Company: Innventure, Inc.
Filing Date: 2025-04-15
Form: S-1
Chunk 60
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The Business Combination

On October 24, 2023, Learn CW and Innventure LLC entered into a Business Combination Agreement with

Holdco, LCW Merger Sub and Innventure Merger Sub. On September 30, 2024, the stockholders of Learn CW

approved the Business Combination, and the Business Combination closed on the Closing Date. The Business

Combination has been accounted for using the acquisition method of accounting. The Company determined the

accounting acquirer to be Holdco. Accordingly, the Company recorded assets acquired, liabilities assumed and non-

controlling interest at their acquisition date fair values and recognized goodwill.

As a consequence of the Business Combination, Innventure, Inc. is the successor to an SEC-registered and

NASDAQ listed company which will require Innventure to hire additional personnel and implement procedures and

processes to address public company regulatory requirements and customary practices. Innventure expects to incur

additional annual expenses as a public company for, among other things, directors’ and officers’ liability insurance,

director fees and additional internal and external accounting and legal and administrative resources, including

increased audit and legal fees.

Innventure’s future results of consolidated operations and financial position may not be comparable to historical

results as a result of the Business Combination.

33

Financial Summary

Highlights

The year ended December 31, 2024 includes the following highlights:

• Innventure’s Technology segment began generating revenue related to its cooling systems for data centers.

• Total operational expenses of approximately $10,506 and $12,517 , respectively, relate to increased costs

associated with public readiness activities connected with the Business Combination and the subsequent

reporting requirements related to being a public entity for the Successor (as defined below) period from

October 2, 2024 through December 31, 2024 and the Predecessor (as defined below) period from January 1,

2024 through October 1, 2024 .

• Cash inflows from equity raises were approximately $19,552 and $26,981 , respectively, for the Successor

period from October 2, 2024 through December 31, 2024 and the Predecessor period from January 1, 2024

through October 1, 2024 . These cash inflows from equity raises are compared to net cash outflows related

to operating, investing and remaining financing activity of $8,478 and $13,345 , respectively, for the

Successor period from October