Company: INV
Filing Date: 2025-11-14
Form Type: 424B3
Source: 0001628280-25-052396
Chunk: 24

Company: Innventure, Inc.
Filing Date: 2025-11-14
Form: 424B3
Chunk 24
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 2025 Notes:  |     |                           |     |                                     |     |                    |        |           |                   |        |           |
|                                                     |     | Black-Scholes Model       |     | Risk-free rate                      |     |                    |   3.66 | %         |                   |        |           |
|                                                     |     |                           |     | Volatility                          |     |                    |  70.00 | %         |                   |        |           |
|                                                     |     |                           |     | Time to liquidity                   |     | 4.25 years         |        |           |                   |        |           |
|                                                     |     |                           |     | Accelsius Series B-1 issuance price |     | $                  |  36.49 |           |                   |        |           |

As further discussed and defined in Note 5. Borrowings, the Company issued Convertible Debentures (as defined below) which contain certain features which qualify as embedded derivates requiring bifurcation. The fair value of the embedded derivative is determined utilizing a “with and without” method, in which the fair value is calculated as the difference in the fair value of the entire hybrid instrument and the fair value of the instrument excluding the bifurcated derivative features. The initial fair value of the embedded derivative was determined using a discounted cash flow model as of April 14, 2025 and May 15, 2025 which is reflective of the dates of the Convertible Debenture issuances. The model uses a significant assumption of a debt yield of 44.5% for the April 14, 2025 issuance and 42.6% for the May 15, 2025 issuance.

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#### Innventure, Inc. and Subsidiaries

### Notes to Condensed Consolidated Financial Statements
<div align='center'>(Unaudited) (in thousands, except share or per share data)</div>

As further discussed in Note 3. Investments, outstanding principal and accrued interest of $7,250 for the investment in debt securities - AFS was automatically converted into Class D preferred units in accordance with the loan agreement. Prior to the conversion, the fair value was estimated using a Black Scholes model. Post conversion, the fair value is estimated using a discounted cash flow model by discounting the contractual debt cash flows at a rate incorporating the credit risk of AeroFlexx.

The initial fair value of the 202