Company: INV
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001628280-25-017614
Chunk: 188

Company: Innventure, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 8
Chunk 188
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 the Vesting Period ("Milestone Three").The Sponsor Earnout Shares have a vesting provision that occurs upon a change of control event or upon the occurrence of the VWAP of the shares of Innventure, Inc. Common Stock exceeding $11.50 per share for at least twenty days in any immediately preceding thirty day period (the "VWAP Completion Event"). These vesting conditions are not effective on the Company Earnout shares until 6 months following the Business Combination. 

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

The Earnout Shares related to Milestone One and Milestone Two were determined to be classified as equity. At Closing, 4,275,862 equity-classified Earnout Shares were fair valued at $46,350, inclusive of 2,137,931 Milestone One shares fair valued at $23,175 and 2,137,931 Milestone Two shares fair valued at $23,175 which are presented in Additional paid-in capital on the consolidated balance sheets. The Earnout Shares related to Milestone Three are classified as a liability. At Closing, 1,068,966 liability-classified Earnout Shares were fair valued at  $11,352 and subsequently fair valued at $14,752 as of December 31, 2024. The Company recognized a loss of  $3,400 in Change in fair value of financial liabilities on the consolidated statements of operations and comprehensive income (loss) for the Successor period from October 2, 2024 through December 31, 2024.

Note 11. WarrantsNumber of Public WarrantsNumber of Private WarrantsNumber of WTI WarrantsOutstanding, October 2, 2024 (Successor)11,499,997 7,146,000 — Exercised (259,309)— — Issued— — 2 Outstanding, December 31, 2024 (Successor)11,240,688 7,146,000 2 There were no warrants outstanding during the Predecessor period from January 1, 2024 through October 1, 2024 nor the Predecessor year ended December 31, 2023.Public and Private Placement WarrantsUpon the consummation of the Business Combination, 11,499,997 Learn CW public warrants and 7,146,000 private placement warrants outstanding immediately