---
schema_version: "secwatch.filing_event.v1"
accession: "0001006837-24-000053"
form_type: "8-K"
ticker: "VATE"
cik: "0001006837"
company_name: "INNOVATE Corp."
filed_at: "2024-04-24T23:59:59+00:00"
generated_at: "2026-06-03T09:11:03.705530+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# INNOVATE Corp. closes rights offering, raising $35M from common shares and Lancer Capital preferred stock.

## Summary
- Rights offering expired Apr. 19, 2024; 5.3M common shares at $0.70/share raised $3.7M in gross proceeds.
- Lancer Capital (Avram Glazer) purchased 31.3K shares of Series C preferred stock at $1,000/share for $31.3M total.
- After offering, INNOVATE has 85.2M common shares outstanding; conversion of preferred could add 44.7M shares.
- Proceeds from rights offering to be used for general corporate purposes, debt service, and working capital.

## SEC filing metadata
- accession: 0001006837-24-000053
- form_type: 8-K
- ticker: VATE
- cik: 0001006837
- company_name: INNOVATE Corp.
- filed_at: 2024-04-24T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1006837/000100683724000053/0001006837-24-000053-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1006837/000100683724000053/hchc-20240424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001006837-24-000053
- JSON: https://secwatch.observer/filing/0001006837-24-000053.json
- Plain text: https://secwatch.observer/filing/0001006837-24-000053.txt

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