Company: INV
Filing Date: 2025-04-15
Form Type: S-1
Source: 0001628280-25-017890
Chunk: 17

Company: Innventure, Inc.
Filing Date: 2025-04-15
Form: S-1
Chunk 17
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 the election of the holder, at any

time prior to the Series C Maturity Date upon the effectiveness of a registration statement by the Company

registering the underlying shares of Common Stock issuable upon conversion (including this registration statement).

The number of shares of Common Stock that each holder of Series C Preferred Stock will receive upon conversion

of all of such holder’s shares of Series C Preferred Stock will be the number of shares equal to the Series C

Conversion Rate (as defined below) multiplied by the number of shares of Series C Preferred Stock held by such

holder (subject to a threshold amount). No fractional shares shall be issued upon the exercise of any conversion

right. Any fractional shares that a holder would otherwise be entitled to will be rounded up to the next whole share.

The “Series C Conversion Rate” means a fraction whose numerator is the Original Issue Price and whose

denominator is the lesser of (i) the Reset Conversion Price or (ii) $12.50. The “Reset Conversion Price” means the

greater of (a) $5.00 and (b) the 10-trading day volume-weighted average closing price of the Common Stock.

Yorkville Convertible Debentures

On March 25, 2025, the Company entered into the Securities Purchase Agreement with Yorkville, in connection

with the issuance and sale by the Company of Convertible Debentures issuable in an aggregate principal amount of

up to $30,000,000, which Convertible Debentures will be convertible into shares of the Company’s Common Stock

(as converted, the “Conversion Shares”). Pursuant to the Securities Purchase Agreement, Yorkville purchased, and

the Company issued, $20,000,000 in aggregate principal amount of Convertible Debentures (the “First Convertible

Debenture”) on April 14, 2025 (the “First Closing”). Yorkville will purchase and the Company will issue an

additional $10,000,000 in aggregate principal amount of Convertible Debentures (the “Second Convertible

Debenture”) after both (i) a registration statement is filed with the SEC registering the resale of the Conversion

Shares and is declared effective by the SEC and (ii) the Company has received stockholder approval either through

affirmative votes in the Company’s annual meeting or irrevocable proxies to do the same by a majority of the voting

power of the Company of the issuance of Conversion Shares and shares issuable pursuant