Company: INV
Filing Date: 2025-05-09
Form Type: DEF 14A
Source: 0001628280-25-024060
Chunk: 33

Company: Innventure, Inc.
Filing Date: 2025-05-09
Form: DEF 14A
Chunk 33
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, if the option was exercised after

the consummation of certain business combination transactions involving PCT held by Innventure LLC (the “Option

Shares”) or (ii) 13,798 Class A units of PCT at an exercise price of $1.00 per Class A Unit, if the option was exercised

prior to the consummation of certain business combination transactions involving PCT, held by Innventure LLC. The

Option Shares are subject to a contractual lock-up agreement that Innventure LLC entered into in connection with PCT’s

business combination transactions and may only be delivered to the ESG Fund upon the periodic expiration of such lock-up

restrictions. The option was exercised in full on March 16, 2022 for 145,161 shares of PCT’s common stock and, to date,

approximately half of the Option Shares have been delivered to ESG Fund, with the remainder to be delivered once such

shares are released from contractual lock-up obligations.

**Indebtedness**

During the fiscal year ended December 31, 2023, Innventure LLC loaned AeroFlexx $2,600 through a series of

informal intercompany loans. During the fiscal year ended December 31, 2024, Innventure informally loaned AeroFlexx an

additional $4,400. The loans were expected to be repaid in full by June 2024 and bear no interest and, instead, were

included in the AeroFlexx Loan Agreement (as defined and described below).

On July 1, 2024, AeroFlexx, as Borrower (as defined in the AeroFlexx Loan Agreement), AeroFlexx Packaging

Company LLC, (“AeroFlexx Packaging”) as Guarantor (as defined in the AeroFlexx Loan Agreement), and Innventure

LLC, as Lender (as defined in the AeroFlexx Loan Agreement), entered into a Loan Agreement (the “AeroFlexx Loan

Agreement”). Under the terms of the AeroFlexx Loan Agreement, Innventure LLC agreed to lend to AeroFlexx up to

$2,400 from time to time until the Maturity Date (as defined in the AeroFlexx Loan Agreement). Additionally, the

aggregate principal amount of $7,600 that Innventure LLC previously loaned to AeroFlexx for working capital pursuant to

interest-free loans that had not previously been formally documented is included as an amount outstanding under the

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AeroFlexx Loan Agreement and subject