Company: INV
Filing Date: 2025-04-23
Form Type: 424B3
Source: 0001628280-25-019356
Chunk: 15

Company: Innventure, Inc.
Filing Date: 2025-04-23
Form: 424B3
Chunk 15
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 (ii) the Company has received stockholder approval either through affirmative votes in the Company’s annual meeting or irrevocable proxies to do the same by a majority of the voting power of the Company of the issuance of Conversion Shares and shares issuable pursuant to the SEPA in excess of the Exchange Cap.

The Convertible Debentures will not bear interest unless an event of default occurs and remains uncured, upon which the Convertible Debentures will bear interest at an annual rate of 18.0%. The Convertible Debentures will mature on July 14, 2026 (the “Maturity Date”). The First Convertible Debenture resulted in gross proceeds to the Company of approximately $18,000,000, representing an original issue discount of 10%. Upon issuance and sale, the Second Convertible Debenture is expected to result in gross proceeds to the Company of approximately $9,000,000, representing an original issue discount of 10%. The Company will be required to make monthly cash payments of principal in amounts between $1,000,000 and $3,000,000 (as per the schedule set forth in the First Convertible Debenture and to be set in a schedule set forth in the Second Convertible Debenture) plus a payment premium of 5% and all accrued and unpaid interest as of the date of such installment. Such payments will commence 30 days following the date of issuance of the applicable Convertible Debenture and will continue on a monthly basis thereafter until the applicable Convertible Debenture is repaid in full.

The Convertible Debentures are and will be convertible at the option of the holder into Common Stock equal to the applicable Conversion Amount (as defined below) divided by the Conversion Price (as defined below). The conversion price for the Convertible Debentures will initially be $10.00, and will be adjusted on the six-month anniversary of the first business day after certain closing conditions are satisfied (the “First Closing Date”) (the “First Reset Date”) and the nine-month anniversary of the First Closing Date (the “Second Reset Date” and collectively with the First Reset Date, a “Reset Date”)) to equal the lower of the then applicable conversion price or the average volume weighted average price of the Common Stock for the 10 trading days immediately prior to the applicable Reset Date. Any portion of the Convertible Debentures may be converted at any time and from time to time, subject to the SPA Exchange Cap (as