Company: INV
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001140361-25-010351
Chunk: 172

Company: Innventure, Inc.
Filing Date: 2025-03-26
Form: 424B3
Chunk 172
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 “net issuance” basis as described in Section 1(b) below. Capitalized terms used herein and not otherwise defined in this Warrant shall have the meaning(s) ascribed to them in the Loan and Security Agreement, dated as of October 22, 2024, by and between Company, WTI Fund X, Inc. and WTI Fund XI, Inc. (the “ Loan Agreement”). “ Applicable Number” means the number of shares of Warrant Stock acquirable hereunder obtained by dividing (A) $750,000 (the “ Coverage Amount”), by (B) the Exercise Price (hereinafter defined). If in any case the Applicable Number includes a fraction then the fraction shall be rounded down to the closest integral number. “ Exercise Price” means: (i) if Holder chooses for this Warrant to be exercisable for Common Stock, the VWAP (hereinafter defined) of the Company’s Common Stock over the thirty (30) Trading Days (hereinafter defined) ending on the Trading Day immediately preceding the date of this Warrant (the “Initial Exercise Price”); provided, however, that if, as of the date which is eighteen (18) months after the date of this Warrant, the VWAP of Company’s Common Stock over the five (5) Trading Days ending on the Trading Day immediately preceding such eighteen (18) month anniversary is less than the Initial Exercise Price then the Exercise Price shall be reduced to such lower VWAP; or (ii) if Holder chooses for this Warrant to be exercisable for Subsequent Round Stock, the corresponding Subsequent Round Price (hereinafter defined). “ VWAP” means, for Company’s Common Stock for a specified period, the dollar volume-weighted average price for such Common Stock on the Principal Market (hereinafter defined), for such period, as reported by Bloomberg through its “AQR” function, subject to appropriate adjustments for any stock dividend, stock split, stock combination, recapitalization or other similar transaction during such period. “ Trading Day” means any day on which the Principal Market is open for trading (regular way), including any day on which it is open for trading (regular way) for a period of time less than the customary time. “ Principal Market” means the principal national securities exchange on which Company’s Common Stock is then listed or traded. “ Subsequent Round Price” means the lowest price per share paid by any Person for Company’s equity securities (as applicable, the “ Subsequent