Innventure subsidiary Accelsius issues $13M convertible notes; annual meeting elects directors

Innventure, Inc.

• Accelsius issued $12M Term Convertible Notes and $1M Bridge Convertible Note; up to $2M additional Bridge Notes may be issued; conversion price $12.175 per Series A unit.
• Proceeds will repay up to $12M of Innventure's existing convertible line of credit with Accelsius, potentially reducing Innventure's beneficial holdings.
• Executive Chairman Mike Otworth and Chief Strategy Officer John Scott amended SAR awards to settle in common stock, with share cap of 1,875,000 each.
• Annual meeting elected Class I directors Gregory Haskell, Daniel Hennessy, Michael Amalfitano; ratified BDO USA; approved two stock issuance proposals with Yorkville.
• Notes are subordinated to WTI Fund X and Fund XI indebtedness; WTI and YA II PN, Ltd. have rights restricting payment prior to senior debt repayment.