---
schema_version: "secwatch.filing_event.v1"
accession: "0001006837-24-000006"
form_type: "8-K"
ticker: "VATE"
cik: "0001006837"
company_name: "INNOVATE Corp."
filed_at: "2024-02-26T23:59:59+00:00"
generated_at: "2026-06-05T14:11:37.538540+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# INNOVATE Corp. launches $19M rights offering for common stock, backstopped by Lancer Capital

## Summary
- INNOVATE (NYSE: VATE) announces $19.0M rights offering; record date March 6, 2024, expiration March 25, 2024.
- Lancer Capital LLC (Avram Glazer’s fund) backstops offering, will purchase up to $19.0M of Series C Convertible Preferred Stock.
- Lancer also agrees to buy an additional $16.0M of Preferred Stock in a concurrent private placement.
- Preferred Stock carries 8% accrued interest (due on redemption), convertible to common at subscription price subject to shareholder approval.
- Company waives Tax Benefit Preservation Plan to allow rights holders to acquire 4.9% or more without triggering poison pill.

## SEC filing metadata
- accession: 0001006837-24-000006
- form_type: 8-K
- ticker: VATE
- cik: 0001006837
- company_name: INNOVATE Corp.
- filed_at: 2024-02-26T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1006837/000100683724000006/0001006837-24-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1006837/000100683724000006/hchc-20240226.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001006837-24-000006
- JSON: https://secwatch.observer/filing/0001006837-24-000006.json
- Plain text: https://secwatch.observer/filing/0001006837-24-000006.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.