Innventure, a firm that funds and scales companies in collaboration with bigger corporations, will go public by merging with the blank-check company Learn CW Investment.

The special purpose acquisition company and Innventure said Tuesday that the business combination reflects an enterprise value for the latter company of $385 million, excluding a $50 million earnout payable upon the achievement of certain milestones.

The deal is expected to include a $75 million committed equity facility and to close in 2024, subject to approval from Learn CW's shareholders and regulators.

Upon closing, all of Innventure's equity holders will roll their holdings into the new public company.

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