Company: INV
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052035
Chunk: 33

Company: Innventure, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 33
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 in Note 18. Subsequent Events. Specifically, the September 30, 2025 valuation considered a risk-free rate of 3.66%, volatility of 70.00%, time to liquidity of 4.25 years, and an Accelsius Series B-1 unit issuance price of $36.49.For further information on the Earnout Shares (as defined below), 2024 WTI Warrants (as defined below), and 2025 WTI Warrants, refer to Note 9. Earnout Shares and Note 10. Warrants.

Note 5. BorrowingsMaturitiesSeptember 30, 2025Interest RatesDecember 31, 2024Interest RatesRelated party notes2024 - 2025$— —$14,000 8% - 15.99%Series 1 promissory notes2025 - 2026304 15%725 12% - 15%Related party convertible notes2025 - 20266,474 3.94% - 15%— Convertible debentures202632,104 —% - 5%— Term convertible notes20267,787 3.94%— August 2025 notes20277,237 6.50%— WTI Facility202820,000 13.50%20,000 13.50%Total Notes Payable 73,906 34,725 Less: unamortized debt discount(7,909)(6,446)Less: current portion of related party notes payable— (14,000)Less: current portion of related party convertible notes(2,085)— Less: current portion of notes payable(34,398)(625)Total Long-term Notes $29,514 $13,654 The Company's debt is carried on a historical cost basis net of unamortized discounts and premiums. Costs associated with acquiring debt are presented in the condensed consolidated balance sheets as a direct deduction from the carrying amount of the debt as a debt discount. Discounts on debt are amortized over the contractual life of the related debt instrument using the effective interest method (unless otherwise specified below) and are included in Interest expense, net in the condensed consolidated statements of operations and comprehensive income (loss).

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Table of ContentsInnventure, Inc. and SubsidiariesNotes to Condensed Consolidated Financial Statements(Unaudited) (in thousands, except share or per share data)

The Company’s notes