Company: INV
Filing Date: 2025-04-15
Form Type: S-1
Source: 0001628280-25-017890
Chunk: 126

Company: Innventure, Inc.
Filing Date: 2025-04-15
Form: S-1
Chunk 126
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-up restrictions. The option was exercised in full on March 16, 2022

for 145,161 shares of PCT’s common stock and, to date, approximately half of the Option Shares have been

delivered to ESG Fund, with the remainder to be delivered once such shares are released from contractual lock-up

obligations.

Indebtedness

During the fiscal year ended December 31, 2023, Innventure LLC loaned AeroFlexx $2,600 through a series of

informal intercompany loans. During the fiscal year ended December 31, 2024, Innventure informally loaned

AeroFlexx an additional $4,400. The loans were expected to be repaid in full by June 2024 and bear no interest and,

instead, were included in the AeroFlexx Loan Agreement (as defined and described below).

On July 1, 2024, AeroFlexx, as borrower, AeroFlexx Packaging Company LLC, as guarantor (“AeroFlexx

Packaging”), and Innventure LLC, as Lender, entered into a Loan Agreement (the “AeroFlexx Loan Agreement”).

Under the terms of the AeroFlexx Loan Agreement, Innventure LLC agreed to lend to AeroFlexx up to $2,400 from

time to time until the Maturity Date (as defined in the AeroFlexx Loan Agreement). Additionally, the aggregate

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principal amount of $7,600 that Innventure LLC previously loaned to AeroFlexx for working capital pursuant to

interest-free loans that had not previously been formally documented is included as an amount outstanding under the

AeroFlexx Loan Agreement and subject to the terms of the AeroFlexx Loan Agreement. The aggregate principal

amount of the Term Loans (as defined in the AeroFlexx Loan Agreement) shall not exceed $10,000. The Term

Loans covered by the AeroFlexx Loan Agreement will be guaranteed by AeroFlexx Packaging and will incur

interest at the annual applicable federal rate published by the Internal Revenue Service (the “IRS”) and adjusted

quarterly, such interest rate to be increased by 2.0% upon the occurrence of an Event of Default (as defined in the

AeroFlexx Loan Agreement). After any repayment of all or any portion of the Term Loans, the Term Loans may be

re-borrowed. AeroFlexx will have the option to prepay all or any portion of the Term Loans upon