Innventure and Learn CW Investment announced today that they have entered into a business combination agreement.
The target founds, funds, operates and scales companies in strategic collaboration with multinational corporations to commercialize breakthrough technology solutions.
Innventure comprises experienced entrepreneur-operators who leverage a systematic, quantitative company-building approach to help mitigate many of the risks inherent in building and scaling high-growth ventures.
The business combination reflects an enterprise value for Innventure of $385M (excluding a $50M earnout payable upon achievement of certain milestones). The transaction is also expected to include a $75 million committed equity facility in addition to the proceeds from other in-process financings.
Innventure has launched and built three companies since inception: PureCycle Technologies (Nasdaq: “PCT”), whose technology converts recycled polypropylene into a renewable resource through its unique purification process; AeroFlexx, whose technology utilizes flexible film to create a package for liquid products that uses up to 85% less virgin plastic versus traditional rigid bottles; and Accelsius, whose technology utilizes liquid cooling technology designed to meet the rising demand for efficient cooling systems in datacenters and telecommunication systems.
The SPAC’s shareholders earlier this month approved a 12-month deadline extensiuon.
The SPAC raised $200 million in an October 2021 IPO to target businesses in the EdTech industries. Read more.
