Learn CW Investment said it extended its merger deadline on a deal with Innventure until Jan. 13 in return for a $150,000 deposit into its trust. This marks the third of 12 available monthly extensions following shareholder approval in October to grant the SPAC more time.
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. Read more.
