Company: INV
Filing Date: 2025-04-23
Form Type: 424B3
Source: 0001628280-25-019358
Chunk: 187

Company: Innventure, Inc.
Filing Date: 2025-04-23
Form: 424B3
Chunk 187
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 notes (the “2025 Notes”) that can be converted into equity units at the later of a qualified financing event or upon maturity, which is 36 -months. A qualified financing event is one or more transactions that results in gross proceeds of at least $2,000 . Upon the occurrence of a qualified financing event, the 2025 Notes convert to the series of stock issued in that financing at the lesser of (a) a 20 percent discount or (b) $200 million divided by the number of fully diluted units outstanding immediately prior to the financing. This conversion option is accounted for as a derivative instrument and the fair value of such is discussed in Note 4. Fair Value . On March 31, 2024, the 2025 Notes with a $6,000 principal balance and $755 of accrued interest were converted into 693,480 Accelsius Series A units at a conversion price of $9.74 per share. The conversion was pursuant to the occurrence of a qualified financing event. The related embedded derivative liability was extinguished in connection with the conversion, resulting in a loss on conversion of $1,119 recorded on the consolidated

F-28 Innventure, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except share or per share data)

statements of operations and comprehensive income (loss) in the Predecessor period from January 1, 2024 through October 1, 2024 . Interest expense on the 2025 Notes was as follows:

|                                                                                        | Successor                              |     |                           Predecessor |     |                            |
|                                                                                        | October 2, 2024throughDecember 31,2024 |     | January 1, 2024through October1, 2024 |     | Year endedDecember 31,2023 |
| Interest attributable to contractual interest....................................      | $—                                     |     |                                  $120 |     |                       $583 |
| Interest attributable to amortization of implied discounts.............                | —                                      |     |                                   231 |     |                        456 |
| Total interest expense................................................................ | $—                                     |     |                                  $351 |     |                     $1,039 |

The Company has accrued interest of $— and $634 in convertible promissory notes as of December 31, 2024 and 2023 , respectively. As of December 31, 2024 and 2023 , the unamortized discount was $— and $2,133