Company: INV
Filing Date: 2025-04-15
Form Type: S-1
Source: 0001628280-25-017890
Chunk: 18

Company: Innventure, Inc.
Filing Date: 2025-04-15
Form: S-1
Chunk 18
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 to the SEPA in excess of

the Exchange Cap.

The Convertible Debentures will not bear interest unless an event of default occurs and remains uncured, upon

which the Convertible Debentures will bear interest at an annual rate of 18.0%. The Convertible Debentures will

mature on July 14, 2026 (the “Maturity Date”). The First Convertible Debenture resulted in gross proceeds to the

Company of approximately $18,000,000, representing an original issue discount of 10%. Upon issuance and sale,

the Second Convertible Debenture is expect to result in gross proceeds to the Company of approximately

$9,000,000, representing an original issue discount of 10%. The Company will be required to make monthly cash

payments of principal in amounts between $1,000,000 and $3,000,000 (as per the schedule set forth in the First

Convertible Debenture and to be set in a schedule set forth in the Second Convertible Debenture) plus a payment

premium of 5% and all accrued and unpaid interest as of the date of such installment. Such payments will commence

30 days following the date of issuance of the applicable Convertible Debenture and will continue on a monthly basis

thereafter until the applicable Convertible Debenture is repaid in full.

The Convertible Debentures are and will be convertible at the option of the holder into Common Stock equal to

the applicable Conversion Amount (as defined below) divided by the Conversion Price (as defined below). The

conversion price for the Convertible Debentures will initially be $10.00, and will be adjusted on the six-month

anniversary of the first business day after certain closing conditions are satisfied (the “First Closing Date”) (the

“First Reset Date”) and the nine-month anniversary of the First Closing Date (the “Second Reset Date” and

collectively with the First Reset Date, a “Reset Date”)) to equal the lower of the then applicable conversion price or

the average volume weighted average price of the Common Stock for the 10 trading days immediately prior to the

applicable Reset Date. Any portion of the Convertible Debentures may be converted at any time and from time to

time, subject to the SPA Exchange Cap (as defined below). The Conversion Amount with respect to any requested

conversion will equal the principal amount requested to be converted plus all accrued and unpaid interest on the