Company: INV
Filing Date: 2025-10-23
Form Type: S-1
Source: 0001140361-25-039085
Chunk: 16

Company: Innventure, Inc.
Filing Date: 2025-10-23
Form: S-1
Chunk 16
---
 upon conversion of the New Convertible Debentures held by Yorkville if the issuance of such Common Stock underlying the New Convertible Debentures would exceed the aggregate number of shares 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 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. Pursuant to the Securities Purchase Agreement, within 90 calendar days of the First Closing Date, the Company is required to hold a special meeting of stockholders providing for the approval of, and obtain the approval of, (i) the issuance of the New Convertible Debentures and the Maximum Conversion Shares (as defined in the Securities Purchase Agreement) without regard to the SPA Exchange Cap in compliance with the rules and regulations of the NASDAQ and (ii) the issuance of the Existing Conversion Shares without regard to the Amendment Exchange Cap in compliance with the rules and regulations of the NASDAQ in accordance with the amendments to the Conversion Price as set forth in the Amendment, with the recommendation of the Company’s board of directors (“Board”) that such proposals be approved. The Company will not be required to make monthly cash payments pursuant to the New Convertible Debentures unless an Amortization Event (as defined in the New Convertible Debentures) has occurred, and then the Company will make monthly cash payments each month until the earlier of (i) the entire outstanding amount 4 TABLE OF CONTENTS under the New Convertible Debentures has been repaid or (ii) the Amortization Event ceases, as provided in the New Convertible Debentures. An “Amortization Event” means (i) the daily VWAP of the Company’s Common Stock is lower than the Floor Price for any five of seven consecutive trading days, (ii) the Company has issued in excess of 99% of the Common Stock available under the SPA Exchange Cap, or (iii) Yorkville is unable to use this registration statement for a period of 20 consecutive trading days. The monthly cash payments will be in an amount equal to 10% of the original principal amount (or the outstanding principal amount of the New Convertible Debentures if lower than such amount), plus a payment premium of 5% and all accrued and unpaid interest as of the date of such