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 loan of aggregate principal amount of $105 million with HC2 Merger Sub, LLC at 8.00% per annum, payable quarterly in kind maturing first anniversary of the Loan Closing Date.
- Instrument
- loan
- Principal
- aggregate principal amount of $105 million
- Counterparty
- HC2 Merger Sub, LLC
- Rate
- 8.00% per annum, payable quarterly in kind
- Maturity
- first anniversary of the Loan Closing Date
- Event
- incurrence
Exact text from the filing
On May 29, 2026 (the “Loan Closing Date”), Broadcasting entered into a loan agreement (the “New Loan Agreement”), as borrower, with Merger Sub, as lender and HC2 Holdco and certain of Broadcasting’s subsidiaries, as guarantors. The New Loan Agreement provides for a bridge loan facility in an aggregate principal amount of $105 million (the “Bridge Loan Facility”), to be funded in a single drawing on the Loan Closing Date.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
INNOVATE Corp. entered into New Loan Agreement with Merger Sub valued at $105 million (effective 2026-05-29).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Merger Sub
- Value
- $105 million
- Effective
- 2026-05-29
Exact text from the filing
On May 29, 2026 (the “Loan Closing Date”), Broadcasting entered into a loan agreement (the “New Loan Agreement”), as borrower, with Merger Sub, as lender and HC2 Holdco and certain of Broadcasting’s subsidiaries, as guarantors.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
INNOVATE Corp. entered into Agreement and Plan of Merger with CONX Corp. (effective 2026-05-29).
- Action
- entry
- Agreement
- merger
- Counterparty
- CONX Corp.
- Effective
- 2026-05-29
Exact text from the filing
On May 29, 2026, HC2 Broadcasting Holdings Inc. (“Broadcasting”) and HC2 Broadcasting Holdco, LLC (“HC2 Holdco”), each an indirect wholly owned subsidiary of INNOVATE Corp., a Delaware corporation (the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with HC2 Merger Sub, LLC, a Delaware limited liability company (“Merger Sub”), and CONX Corp., a Nevada corporation (“CONX”), pursuant to which Merger Sub will merge with and into Broadcasting (the “Merger”), with Broadcasting surviving the Merger as a subsidiary of CONX (the “Surviving Entity”).
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