secwatch.observer — SEC 8-K summary
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Issuer:     INNOVATE Corp. (VATE)
CIK:        0001006837
Form:       8-K
Filed at:   2024-06-20T23:59:59+00:00
Accession:  0001006837-24-000103
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 3.02, 5.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

INNOVATE shareholders approve reverse split, authorized shares increase; 44.7M shares converted
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- Shareholders approved reverse stock split of common stock (69.5M for, 3.6M against).
- Authorized common shares increased from 160M to 250M (63.1M for, 9.6M against).
- Lancer Capital issued 31,286 Series C Preferred shares, converting into 44,693,895 common shares.
- Conversion of Series C Preferred into common stock was also shareholder-approved (58.98M for).
- Additional approvals: officer exculpation charter amendment and equity plan share increase.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1006837/000100683724000103/0001006837-24-000103-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1006837/000100683724000103/hchc-20240618.htm
  HTML page:      https://secwatch.observer/filing/0001006837-24-000103

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer