INNOVATE Corp. (VATE): debt financing — DBM Global enters $220M credit facility to refinance debt, provide working capital

INNOVATE Corp.

$85M term loan + $135M revolver (total $220M) from syndicate led by UMB Bank, N.A.
Facility matures May 20, 2030; accordion allows up to $50M additional capacity.
Proceeds used to fully repay existing debt and provide additional working capital.
CEO Rustin Roach and interim CEO Paul Voigt highlight liquidity to support growth.

item 1.01 item 1.02 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

INNOVATE Corp. incurred credit facility of up to $220.0 million in the aggregate with UMB BANK, n.a. as Administrative Agent and the lenders at Term SOFR Rate plus 3.00% maturing May 20, 2030.

Instrument: credit facility
Principal: up to $220.0 million in the aggregate
Counterparty: UMB BANK, n.a. as Administrative Agent and the lenders
Rate: Term SOFR Rate plus 3.00%
Maturity: May 20, 2030
Event: incurrence

Exact text from the filing

The Credit Agreement provides DBMG with senior secured debt financing in an amount up to $220.0 million in the aggregate, consisting of (i) a senior secured revolving credit facility (the “Revolving Facility”) in an aggregate principal amount of $135.0 million and (ii) a senior secured term loan facility (the “Term Loan Facility”, and together with the Revolving Facility, collectively, the “Credit Facility”) in the amount of $85.0 million.

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INNOVATE Corp. filing history →

Source: SEC EDGAR

accession 0001006837-25-000050

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