Company: INV
Filing Date: 2025-04-29
Form Type: PRE 14A
Source: 0001628280-25-020657
Chunk: 55

Company: Innventure, Inc.
Filing Date: 2025-04-29
Form: PRE 14A
Chunk 55
---
 power of the Company.

The Convertible Debentures bear interest at an annual rate of 0.0%, and have a maturity date of July 14, 2026,

which may be extended at the option of Yorkville. The interest rate will increase to an annual rate of 18.0% upon the

occurrence and during the continuance of an event of default (as defined in the Convertible Debentures). The Convertible

Debentures provide a conversion right, at Yorkville’s option, in which any portion of the principal amount of the debt,

together with any interest or other amounts outstanding under the Convertible Debentures, may be converted at any time

and from time to time into the Common Stock at a conversion price equal to $10.00 (the “Conversion Price”), provided

that, on each of October 14, 2025 and January 14, 2026 (each, a “Reset Date”), the Conversion Price shall be adjusted

(downwards only) to the lower of (i) the Conversion Price then in effect, or (ii) the average VWAP of the Common Stock

during the ten consecutive trading days immediately preceding the applicable Reset Date. The Conversion Price is subject

to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with

respect to the Common Stock.

The Convertible Debentures may not be converted into shares of Common Stock to the extent such conversion

would result in Yorkville and its affiliates having beneficial ownership of more than 4.99% of the then outstanding shares

of Common Stock after giving effect to such conversion; provided that this limitation may be waived by Yorkville upon

not less than 65 days’ prior notice to us. Additionally, in compliance with our obligations under the rules and regulations of

Nasdaq, the aggregate number of shares of Common Stock that we may issue in a transaction is 9,415,549 shares of

Common Stock, or 19.99% of the shares of Common Stock outstanding as of the date of the Securities Purchase

Agreement (the “Convertible Debentures Exchange Cap”). The Convertible Debentures Exchange Cap will not apply under

certain circumstances, including if our stockholders have approved issuances in excess of the Convertible Debentures

Exchange Cap in accordance with the rules of Nasdaq or we obtain a written opinion from an outside law firm that such

approval is not required.

The Convert