Company: INV
Filing Date: 2025-04-15
Form Type: S-1
Source: 0001628280-25-017890
Chunk: 19

Company: Innventure, Inc.
Filing Date: 2025-04-15
Form: S-1
Chunk 19
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applicable Convertible Debenture as of such conversion, with fractional shares rounded up (the “Conversion

Amount”). In addition, no conversion will be permitted to the extent that, after giving effect to such conversion, the

holder together with the certain related parties would beneficially own in excess of 4.99% of the Common Stock

outstanding immediately after giving effect to such conversion, subject to certain adjustments.

6

The Company shall not issue any Common Stock upon conversion of the Convertible Debentures held by

Yorkville if the issuance of such Common Stock underlying the Convertible Debentures would exceed the aggregate

number of Common Stock that the Company may issue upon conversion of the Convertible Debentures in

compliance with the Company’s obligations under the rules or regulations of NASDAQ (the “SPA Exchange Cap”).

The SPA Exchange Cap will not apply under certain circumstances, including if the Company obtains the approval

of its stockholders as required by the applicable rules of the NASDAQ for issuances of Common Stock in excess of

such amount or if the Company obtains a written opinion from outside counsel to the Company that such

stockholder approval is not required.

The Convertible Debentures provide the Company, subject to certain conditions, with an optional redemption

right pursuant to which the Company, upon 10 trading days’ prior written notice to Yorkville (the “Redemption

Notice”), may redeem in cash, in whole or in part, all amounts outstanding under the Convertible Debentures prior

to the Maturity Date. The redemption amount shall be equal to the outstanding principal balance being redeemed by

the Company, plus the redemption premium of 5% of the principal amount being redeemed if completed on or

before the twelve-month anniversary of the issuance date, or 10% of the principal amount being redeemed if

completed after the twelve-month anniversary of the issuance date, plus all accrued and unpaid interest as of the date

of such redemption.

2025 WTI Warrants

On April 14, 2025, the Company issued two warrants to purchase up to an aggregate total of 300,000 shares of

Common Stock (the “2025 WTI Warrants”) to WTI Fund X, LLC and WTI Fund XI, LLC (the “WTI Holders”),

respectively, as consideration for WTI Fund X, Inc., WTI Fund XI, Inc., WTI Fund X, LLC and WTI Fund XI, LLC

(collectively, the