UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
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Item 7.01 - Regulation FD Disclosure
As previously disclosed, on October 22, 2024 (the “WTI Closing Date”), Innventure LLC entered into a Loan and Security Agreement with WTI Fund X, Inc. and WTI Fund XI, Inc. (together, the “WTI Lenders”), as supplemented by the Supplement to the Loan and Security Agreement, dated October 22, 2024, by and among Innventure LLC and the WTI Lenders (the “Loan and Security Agreement”). Further, Innventure LLC, Innventure, Inc. (the Company”) and the WTI Lenders entered into a joinder agreement, pursuant to which the Company became a co-borrower under the Loan and Security Agreement and related loan documents.
The Loan and Security Agreement provides for a term loan facility in an aggregate principal amount of up to $50 million, of which (i) up to $20 million will be made available after the WTI Closing Date and through November 15, 2024 (the “First Tranche”); (ii) up to $15 million will be made available after November 1, 2024 and through November 30, 2024 (the “Second Tranche”); and (iii) up to $15 million will be made available after December 31, 2024 and through January 31, 2025 (the “Third Tranche”) (provided that up to $7.5 million of the Third Tranche will be made available until March 31, 2025), in each case and as previously outlined, subject to the satisfaction of certain conditions.
On November 15, 2024, the First Tranche in the amount of $20 million was received by Innventure LLC and Innventure.
The receipt of each of the Second Tranche and the Third Tranche is still subject to the satisfaction of certain financial conditions and the WTI Lenders’ satisfaction with the Company’s forward-looking plan at such time.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 18th day of November, 2024.
| INNVENTURE, INC. | |||||
By: | /s/ David Yablunosky | ||||
Name: | David Yablunosky | ||||
Title: | Chief Financial Officer | ||||