Company: INV
Filing Date: 2025-04-15
Form Type: S-1
Source: 0001628280-25-017890
Chunk: 128

Company: Innventure, Inc.
Filing Date: 2025-04-15
Form: S-1
Chunk 128
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 LLC entered into a loan and security agreement with Accelsius. Under the loan

and security agreement, Innventure LLC agreed to loan, from time to time, up to $6,000 in term loans to Accelsius,

with a minimum loan of $10 per term loan. On December 13, 2023, the loan and security agreement was amended to

increase the aggregate amount available to be loaned to Accelsius to $12,000. On April 10, 2024, the loan and

security agreement was amended to allow for all or any portion of the term loans to be re-borrowed. On July 1,

2024, the loan and security agreement was amended to remove the requirement that interest under the term loans be

paid in kind. Outstanding principal amounts accrue interest at the annual applicable federal rate published by the IRS

and are adjusted quarterly. In lieu of repayment in cash, at its option, Innventure may convert the outstanding

principal amount of the term loans and any unpaid accrued interest, fees and expenses into equity securities of

Accelsius issued in a bona fide equity financing for investment purposes. To date, Accelsius has borrowed $17,075

in the aggregate, of which $5,075 of principal has been repaid and $84 of interest has been repaid. As of December

31, 2024, approximately $12,408 was outstanding under the loan and security agreement, including $408 of accrued

interest. In addition, to date, Innventure LLC has informally loaned Accelsius $1,200. As described elsewhere in this

prospectus, all intercompany transactions and balances have been eliminated in consolidation, including those

related to this loan and security agreement with Accelsius.

During the fiscal year ended December 31, 2024, Innventure LLC informally loaned Refinity Holdings $530.

On December 21, 2023, Mike Otworth, Innventure LLC’s Executive Chairman, loaned the Company

approximately $1,000 for working capital purposes. The Company issued a note payable representing that loan in

the amount of $1,000 during the year ended December 31, 2023, which is included in notes payable to related parties

in the consolidated balance sheets as of December 31, 2023. The related party note had no stated interest and no

stated maturity date at issuance. In May 2024, the Company executed an unsecured promissory note (the