Company: INV
Filing Date: 2025-10-23
Form Type: S-1
Source: 0001140361-25-039085
Chunk: 24

Company: Innventure, Inc.
Filing Date: 2025-10-23
Form: S-1
Chunk 24
---
                                                     |

| • | If Innventure’s estimates or judgments relating to its critical accounting estimates prove to be incorrect or financial 
 reporting standards or interpretations change, Innventure’s results of operations could be adversely affected.          |

10

TABLE OF CONTENTS

| • | The Company has identified material weaknesses in its internal controls over financial reporting that could, if not                                                                                                                      
 remediated, result in material misstatements in its financial statements and which may have an impact on Innventure’s ability to timely or accurately report its financial condition or results of operations following the consummation 
 of the Business Combination.                                                                                                                                                                                                             |

| • | If Innventure is deemed to be an investment company under the Investment Company Act, it may be required to institute                           
 burdensome compliance requirements and its activities may be restricted, which may make it difficult to operate or to execute its growth plans. |

| • | AFX, Accelsius and Refinity are early-stage companies, and their limited operating histories makes it difficult to evaluate 
 their future prospects and the risks and challenges they may encounter.                                                     |

| • | Accelsius’ cooling products may be subject to increased regulatory scrutiny due to their use of working fluid refrigerants 
 that contain fluorine.                                                                                                     |

| • | The market, including customers and potential investors, may be skeptical of the viability and benefits of Accelsius’ cooling 
 products and Refinity’s plastic waste recycling process because they are based on relatively novel and complex technology.    |

| • | The failure of AFX’s suppliers to continue to deliver necessary raw materials or other components of its products in a timely                                                                                
 manner and to specification could prevent it from delivering products within required time frames and could cause production delays, cancellations, penalty payments and damage to its brand and reputation. |

| • | AFX may not be able to meet applicable regulatory requirements for the use of AFX’s products in food grade applications, and,                                                                  
 even if the requirements are met, complying on an ongoing basis with the numerous regulatory requirements applicable to AFX’s products and AFX’s facilities will be time-consuming and costly. |

| • | Innventure may be unable to sufficiently protect the IP rights of itself and the Innventure Companies and may encounter 
 disputes from time to time relating to its use of the IP of third parties.                                              |

| • | Innventure, the Innventure Companies, and Innventure’s MNC partners may be negatively impacted by volatility in the political                                                                                                           
 and economic environment, such geopolitical unrest, economic downturns and