{"schema_version":"secwatch.filing_event.v1","accession":"0001006837-25-000050","form_type":"8-K","ticker":"VATE","cik":"0001006837","company_name":"INNOVATE Corp.","filed_at":"2025-05-21T23:59:59+00:00","discovered_at":"2026-05-14T18:02:47.138452+00:00","generated_at":"2026-05-20T22:00:35.295134+00:00","sec_items":["1.01","1.02","2.03","7.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"DBM Global enters $220M credit facility to refinance debt, provide working capital","bullets":["$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."],"urls":{"canonical":"https://secwatch.observer/filing/0001006837-25-000050","json":"https://secwatch.observer/filing/0001006837-25-000050.json","markdown":"https://secwatch.observer/filing/0001006837-25-000050.md","text":"https://secwatch.observer/filing/0001006837-25-000050.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1006837/000100683725000050/0001006837-25-000050-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1006837/000100683725000050/hchc-20250520.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-20T22:00:35.295134+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"09460e854310a16494b08c5c202d62067bb1f01e","claim":"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.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1006837/000100683725000050/0001006837-25-000050-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"up to $220.0 million in the aggregate"},{"label":"Counterparty","value":"UMB BANK, n.a. as Administrative Agent and the lenders"},{"label":"Rate","value":"Term SOFR Rate plus 3.00%"},{"label":"Maturity","value":"May 20, 2030"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}