SCHEDULE: WE-INN LLC Reduces Innventure Stake to 10.52%

WE-INN LLC has further reduced its beneficial ownership in Innventure, Inc. to 10.52% through recent open market sales, citing portfolio diversification and liquidity needs.

Summary

• WE-INN LLC, along with Gregory D. Wasson and Kimberly Wasson, filed Amendment No. 3 to their Schedule 13D regarding Innventure, Inc. common stock.
• As of December 3, 2025, the Reporting Persons beneficially owned 6,572,561 shares, representing approximately 10.52% of Innventure, Inc.'s common stock outstanding.
• This percentage is based on 62,471,971 shares outstanding as of November 12, 2025, as reported in Innventure's Form 10-Q filed on November 13, 2025.
• The Reporting Persons effected open market sales totaling 717,791 shares between December 1 and December 3, 2025.
• Specific sales include 427,301 shares on December 1, 2025, at a volume weighted average price of $5.11 per share; 117,901 shares on December 2, 2025, at $4.95 per share; and 172,589 shares on December 3, 2025, at $4.76 per share.
• The purpose of these dispositions is primarily for diversifying their investment portfolio and providing liquidity to holders of interests in WE-INN LLC.
• The Reporting Persons state that these dispositions do not reflect a change in their belief that Innventure, Inc. represents an attractive investment based on its business prospects and strategy.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to a major beneficial owner significantly reducing its stake through open market sales, which can be perceived as a lack of conviction, even though the filing states the sales are for diversification and liquidity and do not reflect a change in belief about the Issuer's attractiveness.

Positives

• Reporting Persons explicitly state that the dispositions do not reflect a change in their belief that Innventure, Inc. is an attractive investment based on its business prospects and strategy.

Negatives

• A significant beneficial owner, WE-INN LLC, has reduced its stake in Innventure, Inc. to 10.52% through recent sales.
• The Reporting Persons sold 717,791 shares in open market transactions over three days (December 1-3, 2025).
• The average selling price decreased over the three days, from $5.11 on December 1 to $4.76 on December 3.

Future Outlook

The Reporting Persons may make additional dispositions in the future, primarily for portfolio diversification and providing liquidity. They maintain their belief that Innventure, Inc. remains an attractive investment based on its business prospects and strategy.

Management Comments

• "The Reporting Persons made the dispositions described herein, and may in the future make additional dispositions, primarily for the purposes of diversifying their investment portfolio and providing liquidity to holders of interests in WE-INN LLC."
• "Accordingly, such dispositions do not reflect a change in the Reporting Persons' previously reported belief that the Issuer represents an attractive investment based on the Issuer's business prospects and strategy."

Industry Context

This filing primarily details a change in beneficial ownership by a specific investment entity and does not provide broader industry context or trends. The sales are attributed to portfolio management rather than industry-specific concerns.

Stakeholder Impact

• Shareholders: May view the significant reduction in stake by a major beneficial owner as a negative signal, potentially leading to downward pressure on the stock price.
• Management: The filing explicitly states the dispositions do not reflect a change in belief about the Issuer's business prospects, which could be an attempt to mitigate negative perception.

Next Steps

• Reporting Persons may make additional dispositions of Innventure, Inc. common stock in the future.

Key Dates

Recommendation

The substantial reduction in WE-INN LLC's beneficial ownership, involving the sale of over 700,000 shares in open market transactions, is a significant negative signal. While the stated reasons are portfolio diversification and liquidity, the declining volume-weighted average price of these sales (from $5.11 to $4.76) suggests a lack of market demand at higher prices and potentially a strategic exit by a major holder. A seasoned investor would interpret such insider selling, particularly into a weakening price trend, as a strong indicator that the stock may be overvalued or that future growth prospects are not as robust as previously perceived, warranting a 'sell' recommendation.

Keywords

Innventure Inc., WE-INN LLC, Schedule 13D, Insider Sales, Stock Disposition, Beneficial Ownership, Common Stock, Investment Diversification, Liquidity