ORLANDO, Fla., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Innventure, Inc. (NASDAQ:INV) and Learn CW Investment Corporation (NASDAQ:LCW) ("Learn CW"), a special purpose acquisition company, today announced the completion of their previously announced business combination ("Business Combination"). The Business Combination was approved at an extraordinary general meeting of Learn CW's shareholders on September 30, 2024. Upon the completion of the Business Combination, the combined company changed its name to Innventure, Inc. and its common stock is expected to begin trading on the Nasdaq Stock Market under the new ticker symbol "INV" beginning on October 3, 2024.
In connection with the closing of the Business Combination, Innventure is expected to ring the Closing Bell at 4 p.m. EST on October 3, 2024 at the Nasdaq Marketsite.
"We're thrilled to reach this milestone, which supports our goal to found, fund and operate companies that offer transformative technology solutions," said Bill Haskell, CEO of Innventure. "We believe becoming a public company creates a unique opportunity to offer investors access to technologies with early-stage economics and late-stage risk. I'm grateful to our partners at Learn CW for recognizing the value of our unique business model and supporting our vision to be a conglomerate of majority-owned companies. I'd also like to thank our multinational corporation partners for their engagement and collaboration, and the trust they put in us to commercialize their breakthrough technologies. We look forward to growing Innventure and maximizing shareholder value over the long term."
Rob Hutter, CEO of Learn CW, added, "As someone who has spent my career in venture creation, I am thrilled to help bring Innventure to the public market. I believe this public listing will further accelerate Innventure's credibility and standing as the innovation launch partner of choice for the world's largest companies, giving Innventure, in my opinion, the pick of the best opportunities for years to come and enabling investors to share in a remarkable stream of innovative companies that could compound over time and that are available few other places."
Innventure uses operational expertise to take what it believes to be breakthrough technologies sourced from multinational corporations to market. In the process, Innventure builds and scales companies around these technologies using a systematic, quantitative and repeatable analysis. Innventure has launched three such companies since its inception: PureCycle Technologies, Inc., AeroFlexx and Accelsius. PureCycle became a publicly traded company in 2021.
AdvisorsJones Day acted as legal advisor to Innventure, and Sidley Austin LLP acted as legal advisor to Learn CW. The Maples Group acted as Cayman legal advisor to Learn CW.
About InnventureInnventure founds, funds, and operates companies with a focus on transformative, sustainable technology solutions acquired or licensed from ...
