Company: INV
Filing Date: 2025-10-23
Form Type: S-1
Source: 0001140361-25-039085
Chunk: 49

Company: Innventure, Inc.
Filing Date: 2025-10-23
Form: S-1
Chunk 49
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 the SEC to approve this analysis and the SEC has not done so. If the SEC were to disagree with Innventure’s analysis or relevant factual circumstances were to change, Innventure may be required to adjust its analysis and, potentially, its asset composition, in order to support its conclusion that it should not be deemed to be an investment company under the Investment Company Act. If Innventure were required to register as an investment company under the Investment Company Act, compliance with the additional associated regulatory burdens would require additional expense and attention from management for which Innventure has not accounted and, furthermore, could require Innventure to restructure its operations, sell certain of its assets or abstain from the purchase of certain assets, which could have a material adverse effect on Innventure’s business, financial condition, results of operations and prospects. Additional financing transactions by the Operating Companies could impact your rights as a stockholder of Innventure. Innventure and the Operating Companies expect to require additional financing to fund their operations or growth. These additional financing transactions could include transactions at the Operating Company level, such as Innventure’s sale of Operating Company equity—similar to Accelsius’s recent sale of Series B-1 Units to JCI—or the Operating Companies’ issuance of new equity or debt convertible into new equity. The issuance of new equity securities or convertible debt to third-party investors at the Operating Company level or the sale of a portion of Operating Company equity held by Innventure would reduce Innventure’s ownership interest in that Operating Company. Furthermore, the holders of those equity securities would have structural priority as 25 TABLE OF CONTENTS compared to Common Stock with respect to that Operating Companies’ assets and will also have priority as to liquidation and dividend and other rights more favorable than Common Stock with respect to that Operating Company. This priority, or any reduction in Innventure’s ownership interest in any Operating Companies, may reduce the value of the Common Stock. For example, pursuant to Accelsius’s recent sale of Series B-1 Units to JCI, JCI received certain management rights, preemptive rights; rights of first refusal; rights of co-sale; information rights and inspection and registration rights; which, in the case of the management rights, provide JCI’s designee to the Board of Accelsius with the ability to determine if certain actions at the Accelsius level or taken or not, as they require approval of the JCI designee. See “ Prospectus Summary – Recent Developments -- JCI Investment in Accelsius” for more information. Risks Related to Intellectual Property Innventure