Company: INV
Filing Date: 2025-05-09
Form Type: ARS
Source: 0001628280-25-024065
Chunk: 127

Company: Innventure, Inc.
Filing Date: 2025-05-09
Form: ARS
Chunk 127
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 Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except share or per share data) 91

December 31, 2024 (Successor) Intangible Asset Weighted-Average Amortization Period (years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade names ............................................ 16.0 17,800 (277) 17,523 Customer relationships ............................ 3.0 4,600 (382) 4,218 Developed technology ............................ 9.1 165,100 (4,718) 160,382 Other finite-lived intangible assets .......... 3.0 30 — 30 Total intangible assets ........................... $ 187,530 $ (5,377) $ 182,153 There were no intangible assets on the consolidated balance sheets during the Predecessor periods; therefore, no amortization expense was recognized. Amortization expense was $5,377 for the Successor period from October 2, 2024 through December 31, 2024 and is recorded on the consolidated statements of operations and comprehensive income (loss). Estimated future amortization expense is as follows: Amortization Expense 2025 $ 21,616 2026 21,616 2027 21,234 2028 20,073 2029 18,853 Thereafter 78,761 Total $ 182,153 Note 10. Earnout Shares Upon Closing of the Business Combination, 5,000,000 Company Earnout Shares were contingently issuable to Innventure Members. Additionally, 344,828 earnout shares were issued to the Sponsor who received consideration in the Business Combination. These shares, referred 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) within 7 years following the Closing (the “Vesting Period”) in excess of $15,000 in 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,