{"schema_version":"secwatch.filing_event.v1","accession":"0001006837-25-000097","form_type":"8-K","ticker":"VATE","cik":"0001006837","company_name":"INNOVATE Corp.","filed_at":"2025-08-05T23:59:59+00:00","discovered_at":"2026-05-14T18:02:43.118319+00:00","generated_at":"2026-05-17T20:20:56.380724+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"INNOVATE closes $360M 10.5% notes and $54M 9.5% convertible debt refinancing","bullets":["Issued $360.3M New Senior Secured Notes (10.5%, due Feb 2027); exchanged $328.1M of existing 8.5% 2026 notes; $1.9M old notes remain.","Issued $53.5M New Convertible Notes (9.5%, due Mar 2027) exchanging $48.7M of existing convertible notes; conversion price ~$42.31/share.","Extended revolving credit facility to Sep 2026; CGIC note amended to $43M at 16% PIK interest, secured, due Apr 2027 (includes preferred stock exchange).","Extended Spectrum Notes ($69.7M) to Sep 2026; must pursue strategic alternatives for Broadcasting segment if not repaid by Nov 2025.","Covenants require asset sales generating ≥$150M net proceeds with milestones through Feb 2026; failure triggers sale process for DBM Global."],"urls":{"canonical":"https://secwatch.observer/filing/0001006837-25-000097","json":"https://secwatch.observer/filing/0001006837-25-000097.json","markdown":"https://secwatch.observer/filing/0001006837-25-000097.md","text":"https://secwatch.observer/filing/0001006837-25-000097.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1006837/000100683725000097/0001006837-25-000097-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1006837/000100683725000097/hchc-20250731.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T20:20:56.380724+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}