Innventure, Inc. (NASDAQ: INV) announced it has entered into an at-the-market equity offering agreement and discontinued its standby equity purchase agreement with YA II PN, Ltd., which was established in October 2023.

The ATM program allows Innventure to sell shares of its common stock with an aggregate offering size of up to $60 million. The company is under no obligation to sell any shares under the arrangement. Any sales are expected to occur over an extended period at the company's discretion, based on parameters set and monitored by an independent committee of the Board of Directors.

"Having become eligible to use a Form S-3 shelf registration statement, we are moving away from the SEPA and established this ATM to broaden our financing options and give Innventure greater control over how and when we raise equity capital," said Dr. Bill Grieco, Innventure's Chief Executive Officer.

Board Chairman Bruce Brown said the ATM gives the Board flexibility to control the timing and extent of dilution as the company focuses on its subsidiary Accelsius.

The information in this article is based on a press release issued by Innventure.