Company: INV
Filing Date: 2025-05-09
Form Type: DEF 14A
Source: 0001628280-25-024060
Chunk: 56

Company: Innventure, Inc.
Filing Date: 2025-05-09
Form: DEF 14A
Chunk 56
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 of default (as defined in the Convertible Debentures). The Convertible

Debentures provide a conversion right, at Yorkville’s option, in which any portion of the principal amount of the debt,

together with any interest or other amounts outstanding under the Convertible Debentures, may be converted at any time

and from time to time into the Common Stock at a conversion price equal to $10.00 (the “Conversion Price”), provided

that, on each of October 14, 2025 and January 14, 2026 (each, a “Reset Date”), the Conversion Price shall be adjusted

(downwards only) to the lower of (i) the Conversion Price then in effect, or (ii) the average VWAP of the Common Stock

during the ten consecutive trading days immediately preceding the applicable Reset Date. The Conversion Price is subject

to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with

respect to the Common Stock.

The Convertible Debentures may not be converted into shares of Common Stock to the extent such conversion

would result in Yorkville and its affiliates having beneficial ownership of more than 4.99% of the then outstanding shares

of Common Stock after giving effect to such conversion; provided that this limitation may be waived by Yorkville upon

not less than 65 days’ prior notice to us. Additionally, in compliance with our obligations under the rules and regulations of

Nasdaq, the aggregate number of shares of Common Stock that we may issue in a transaction is 9,415,549 shares of

Common Stock, or 19.99% of the shares of Common Stock outstanding as of the date of the Securities Purchase

Agreement (the “Convertible Debentures Exchange Cap”). The Convertible Debentures Exchange Cap will not apply under

certain circumstances, including if our stockholders have approved issuances in excess of the Convertible Debentures

Exchange Cap in accordance with the rules of Nasdaq or we obtain a written opinion from an outside law firm that such

approval is not required.

The Convertible Debentures provide us, subject to certain conditions, with an optional redemption right pursuant

to which we, upon 10 trading days’ prior written notice to Yorkville (the “Redemption Notice”), may redeem in cash, in

whole or in part, so long as (i) the Redemption Notice is delivered to Yorkville after the close of trading hours on a