Company: INV
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040379
Chunk: 41

Company: Innventure, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 41
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, 2025 and the interest rate was increased to 13.50% per annum. Additionally, $1,000 of the principal amount became due on or around the amendment date.Interest expense on the related party notes was as follows:

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Table of ContentsInnventure, Inc. and SubsidiariesNotes to Condensed Consolidated Financial Statements(Unaudited) (in thousands, except share or per share data)

Three months endedSix months endedJune 30, 2025 (Successor)June 30, 2024 (Predecessor)June 30, 2025 (Successor)June 30, 2024 (Predecessor)Total interest expense$— $— $419 $— In addition to the related party notes above, the Company also had a related party note for $1,000 through an unsecured promissory note with an additional related party dated May 2, 2024. As per the terms of the executed agreement, the principal amount became due on December 21, 2024 and interest will accrue at the rate of 8.00% per annum. Upon maturity, the Company is required to repay the outstanding principal amount of $1,000 and a loan fee equal to approximately $63.On March 20, 2025, in connection with the issuance of Series C Preferred Stock (as defined below), the Company extinguished the outstanding amount of related party notes. The Company recognized a loss of $— and $3,538 in Loss on extinguishment of related party debt on the condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2025 (Successor), respectively.WTI FacilityOn October 22, 2024, the Company entered into a term loan with WTI Fund X, Inc. and WTI Fund XI, Inc., (collectively, “WTI Lenders”). The terms of the loan provides for a term loan facility in the aggregate principal amount of up to $50,000 (the "WTI Facility"). The total aggregate principal was available in three separate tranches subject to the Company meeting certain conditions. The Company received $20,000 (the “First Tranche”) on November 15, 2024. The First Tranche, principal and interest, shall be repaid over a period of 30 months in equal, monthly installments, commencing after an initial 12-month period of interest-only monthly