Company: INV
Filing Date: 2025-07-01
Form Type: 8-K
Source: 0001628280-25-033614
Chunk: 0

Company: Innventure, Inc.
Filing Date: 2025-07-01
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

From June 27, 2025 through July 1, 2025, Accelsius Holdings LLC (“ Accelsius”), a controlled subsidiary of Innventure, Inc., a Delaware corporation (the “ Company”), issued convertible unsecured promissory notes in an aggregate principal amount of $13,000,000 with an option to issue additional convertible unsecured promissory notes in an aggregate principal amount of $2,000,000, subject to certain conditions.

Accelsius issued convertible unsecured promissory notes (collectively, the “ Term Convertible Notes”) in an aggregate principal amount of $12,000,000 to certain investors, including WE-Inn LLC and Ascent Accelsius, A Series of Ascent X Innventure, LP, each of which is considered to be a Related Party (as defined in the Company’s Related Party Transactions Policy) (collectively, the “ Investors”). The Term Convertible Notes will be convertible, at the discretion of the Investors, into Series A Units of Accelsius on or after January 2, 2026 and at a price per unit equal to $12.175, bear interest at the applicable federal rate and mature on December 31, 2026. Accelsius will apply the proceeds from the issuance of the Term Convertible Notes to repay (the “ Repayment”) borrowings under that certain Loan and Security Agreement between Innventure LLC and Accelsius, dated as of March 30, 2023 (as amended to date, the “ Innventure Convertible Line of Credit”). As a result of the Repayment, the Company’s indirect beneficial holdings, through Innventure LLC, of Accelsius may be reduced in the event that the Term Convertible Notes are converted into Series A Units of Accelsius.

Accelsius also sold a convertible unsecured promissory note (the “ Bridge Convertible Note”) in an aggregate principal amount of $1,000,000 to Joshua Claman, Chief Executive Officer of Accelsius. An additional $2,000,000 in aggregate principal amount of Bridge Convertible Notes is issuable in $1,000,000 increments, upon the request of Accelsius and subject to Mr. Claman’s sole discretion. The Bridge Convertible Notes are convertible into equity of Accelsius (including preferred equity at a discount if certain conditions are met), bear interest at a rate of 15% per annum, and mature on December 31, 2025.

Additionally, the