---
schema_version: "secwatch.filing_event.v1"
accession: "0001006837-24-000038"
form_type: "8-K"
ticker: "VATE"
cik: "0001006837"
company_name: "INNOVATE Corp."
filed_at: "2024-03-28T23:59:59+00:00"
generated_at: "2026-06-04T05:39:30.502866+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# INNOVATE Corp. raises $25M via Series C convertible preferred sale to Lancer Capital

## Summary
- Issued 25,000 shares of Series C Non-Voting Convertible Preferred to Lancer Capital for $25M.
- Buyer Lancer Capital is led by Chairman Avram A. Glazer; placement exempt under Section 4(a)(2).
- Initial conversion price $0.70 per share; shares automatically convert upon stockholder approval.
- Dividends equal to common dividends; redemption price $1,000 plus 8% annual after 6 years.
- Company to seek stockholder approval for conversion at 2024 annual meeting.

## SEC filing metadata
- accession: 0001006837-24-000038
- form_type: 8-K
- ticker: VATE
- cik: 0001006837
- company_name: INNOVATE Corp.
- filed_at: 2024-03-28T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 3.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1006837/000100683724000038/0001006837-24-000038-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1006837/000100683724000038/hchc-20240328.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001006837-24-000038
- JSON: https://secwatch.observer/filing/0001006837-24-000038.json
- Plain text: https://secwatch.observer/filing/0001006837-24-000038.txt

## Key facts
- Governance Changes
  INNOVATE Corp.: Filed Certificate of Designations for Series C Preferred Stock, amending the certificate of incorporation (effective 2024-03-28).
  - Change: charter amendment
  - Effective: 2024-03-28
  source text: On March 28, 2024, the Company amended its amended and restated certificate of incorporation by filing the Certificate of Designations of the Series C Preferred Stock (the “Series C Certificate of Designations”) with the Secretary of State of the State of Delaware on March 28, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1006837/000100683724000038/0001006837-24-000038-index.htm

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