Company: INV
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001628280-25-017614
Chunk: 187

Company: Innventure, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 8
Chunk 187
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 and SubsidiariesNotes to Consolidated Financial Statements(in thousands, except share or per share data)

December 31, 2024 (Successor)Intangible AssetWeighted-Average Amortization Period (years)Gross Carrying AmountAccumulated AmortizationNet Carrying AmountTrade names16.017,800 (277)17,523 Customer relationships3.04,600(382)4,218 Developed technology 9.1165,100(4,718)160,382 Other finite-lived intangible assets3.030— 30 Total intangible assets$187,530 $(5,377)$182,153 There were no intangible assets on the consolidated balance sheets during the Predecessor periods; therefore, no amortization expense was recognized. Amortization expense was $5,377 for the Successor period from October 2, 2024 through December 31, 2024 and is recorded on the consolidated statements of operations and comprehensive income (loss). Estimated future amortization expense is as follows: Amortization Expense2025$21,616 202621,616 202721,234 202820,073 202918,853 Thereafter78,761 Total$182,153 

Note 10. Earnout SharesUpon Closing of the Business Combination, 5,000,000 Company Earnout Shares were contingently issuable to Innventure Members. Additionally, 344,828 earnout shares were issued to the Sponsor who received consideration in the Business Combination. These shares, referred to as "Sponsor Earnout Shares," are subject to clawback. The Company Earnout Shares and the Sponsor Earnout Shares are collectively referred to as the “Earnout Shares”.The Earnout Shares will vest upon the following milestone conditions:•40% of the Earnout Shares will vest upon Accelsius having entered into binding contracts providing for revenue for the Company (as defined in the Business Combination Agreement) within 7 years following the Closing (the “Vesting Period”) in excess of $15,000 in revenue ("Milestone One");•40% of the Earnout Shares will vest upon the Company’s formation of a new subsidiary, in partnership with an MNC, as determined using the Innventure LLC's “DownSelect” process, 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