Company: INV
Filing Date: 2025-04-15
Form Type: S-1
Source: 0001628280-25-017890
Chunk: 132

Company: Innventure, Inc.
Filing Date: 2025-04-15
Form: S-1
Chunk 132
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 and (iii) all liabilities of AeroFlexx Packaging to Auto Now presently existing or incurred in the future, whether they are matured or unmatured, direct or contingent, and any renewals, extensions and substitutions of those liabilities. On March 20, 2025, Auto Now agreed to deem as repaid in full and otherwise terminated all loans and other obligations of AeroFlexx Packaging to Auto Now under the Loan Agreement and any loan documentation executed in connection with the Loan Agreement in exchange for the issuance to Glockner Family Venture Fund, LP of 578,294 shares of Series C Preferred Stock on March 24, 2025. James Donnally, a member of the Board, also serves as a director of Auto Now Acceptance Company, the parent company of Auto Now.

77

Accelsius

Convertible Notes

On August 18, 2022, pursuant to a note purchase agreement (the “Series I Note Purchase Agreement”), by and

among Accelsius, the ESG Fund and the other parties thereto, Accelsius issued a convertible promissory note to the

ESG Fund in an aggregate principal amount of $4,000 (the “Accelsius Convertible Notes”). The Accelsius

Convertible Notes accrue interest at a rate of 8% per year and are convertible into equity securities of Accelsius

issued in a bona fide equity offering for investment purposes at a conversion price equal to the lesser of 80% of the

per unit price paid by the investors purchasing such equity in the such offering or (b) the quotient of $200,000

divided by the aggregate number of outstanding Class A Units and Accelsius Incentive Units as of immediately prior

to the initial closing of such equity securities. The Accelsius Convertible Notes mature on the earlier of August 18,

2025 or the date on which a change of control transaction (as defined in the Accelsius Convertible Notes) is

consummated. The total amount of interest accrued and due to the ESG Fund in the fiscal year ended December 31,

2023 was approximately $500. As of December 31, 2024, the total amount of interest accrued and due to the ESG

Fund in 2024 was $0.

On June 2, 2023, the Series I Note Purchase Agreement was amended and restated to permit Accelsius to issue

and sell additional Accelsius Convertible Notes to such persons or entities (including to the ESG Fund if the E