Company: INV
Filing Date: 2025-10-23
Form Type: S-1
Source: 0001140361-25-039085
Chunk: 47

Company: Innventure, Inc.
Filing Date: 2025-10-23
Form: S-1
Chunk 47
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 the Investment Company Act, it will be subject to additional regulatory requirements and its activities may be restricted, including:

| • | restrictions on the nature of its investments; |

| • | limitations on its ability to borrow; |

| • | prohibitions on transactions with affiliates; and |

| • | restrictions on the issuance of securities. |

Each of these may make it difficult for Innventure to run its business. In addition, the law may impose upon Innventure burdensome requirements, including:

| • | registration as an investment company and subsequent regulation as an investment company; |

| • | adoption of a specific form of corporate structure; and |

| • | reporting, record keeping, voting, proxy and disclosure requirements and other rules and regulations. |

Innventure intends to conduct its operations so that it is not required to register as an investment company under the Investment Company Act. Section 3(a)(1)(A) of the Investment Company Act defines an “investment company” as any issuer that is or holds itself out as being engaged primarily, or proposes to engage primarily, in the business of investing, reinvesting or trading in securities. Section 3(a)(1)(C) of the Investment Company Act defines an investment company as any issuer that is engaged or proposes to engage in the business of investing, reinvesting, owning, holding or trading in securities and owns or proposes to acquire investment securities having a value exceeding 40% of the value of the issuer’s total assets (exclusive of U.S. Government securities and cash items) on an unconsolidated basis. Excluded from the term “investment securities,” among other things, are U.S. Government securities and securities issued by majority-owned subsidiaries, as defined in the Investment Company Act, that are not themselves investment companies and are not relying on the exemption from the definition of investment company set forth in Section 3(c)(1) or Section 3(c)(7) of the Investment Company Act.

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TABLE OF CONTENTS Furthermore, if Innventure were to operate its Operating Companies primarily for the purpose of making a profit in the sale of its Operating Companies’ securities rather than retaining majority ownership, as defined in the Investment Company Act, or control of such companies, it may increase the likelihood that Innventure could be deemed an investment company. Though Innventure does not expect exit transactions to be a factor in the business plans for its Operating Companies and does not believe that its principal activities will subject it to the Investment Company Act, if Innventure were deemed to be subject