Company: INV
Filing Date: 2025-10-23
Form Type: S-1
Source: 0001140361-25-039085
Chunk: 209

Company: Innventure, Inc.
Filing Date: 2025-10-23
Form: S-1
Chunk 209
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 to as “Sponsor Earnout Shares,” are subject to clawback. The Company Earnout Shares and the Sponsor Earnout Shares are collectively referred to as the “Earnout Shares”. The Earnout Shares will vest upon the following milestone conditions:

| • | 40% of the                                                                                                                                                                                                                                                                         
 Earnout Shares will vest upon Accelsius having entered into binding contracts providing for revenue for the Company (as defined in the Business Combination Agreement) within7years following the Closing (the “Vesting Period”) in excess of $15,000in revenue (“Milestone One”); |

| • | 40% of the                                                                                                                                                                                                             
 Earnout Shares will vest upon the Company’s formation of a new subsidiary, in partnership with an MNC, as determined using the Innventure LLC’s “DownSelect” process, within the Vesting Period (“Milestone Two”); and |

| • | 20% of the                                                                                                                
 Earnout Shares will vest upon AeroFlexx having received in excess of $15,000revenue within the Vesting Period (“Milestone 
 Three”).                                                                                                                  |

The Sponsor Earnout Shares have a vesting provision that occurs upon a change of control event or upon the occurrence of the VWAP of the shares of Innventure, Inc. Common Stock exceeding $ 11.50per share for at least twentydays in any immediately preceding thirtyday period (the “VWAP Completion Event”). These vesting conditions are not effective on the Company Earnout shares until 6months following the Business Combination. The Earnout Shares related to Milestone One and Milestone Two were determined to be classified as equity. At Closing, 4,275,862equity-classified Earnout Shares were fair valued at $ 46,350, inclusive of 2,137,931Milestone One shares fair valued at $ 23,175and 2,137,931Milestone Two shares fair valued at $ 23,175which are presented in Additional paid-in capital on the consolidated balance sheets. The Earnout Shares related to Milestone Three are classified as a liability. At Closing, 1,068,966liability-classified Earnout Shares were fair valued at $ 11,352and subsequently fair valued at $ 14,752as of December 31, 2024. The Company recognized a loss of $ 3,400in Change in fair value of financial liabilities on the consolidated statements of operations and comprehensive income (loss) for the Successor period from October 2, 202