---
schema_version: "secwatch.filing_event.v1"
accession: "0001006837-26-000045"
form_type: "8-K"
ticker: "VATE"
cik: "0001006837"
company_name: "INNOVATE Corp."
filed_at: "2026-06-01T12:45:13+00:00"
generated_at: "2026-06-01T12:50:46.281138+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# INNOVATE to sell 75% of Broadcasting to CONX Corp.; $105M bridge loan refinances existing debt

## Summary
- Net to INNOVATE: retains 25% of Broadcasting post-merger; CONX provides up to $75M equity commitment.
- Bridge loan of $105M at 8.00% p.a. matures May 29, 2027; interest capitalized quarterly, extinguished upon merger close.
- INNOVATE granted option to repurchase up to 15% of Broadcasting from CONX within 18 months post-close.
- CONX Affiliate granted option to acquire up to 80.1% of Broadcasting within two years; INNOVATE may force buyout of its remaining stake.
- Closing subject to FCC and HSR approvals; expected by November 29, 2026 with possible extensions.

## SEC filing metadata
- accession: 0001006837-26-000045
- form_type: 8-K
- ticker: VATE
- cik: 0001006837
- company_name: INNOVATE Corp.
- filed_at: 2026-06-01T12:45:13+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1006837/000100683726000045/0001006837-26-000045-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1006837/000100683726000045/hchc-20260529.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001006837-26-000045
- JSON: https://secwatch.observer/filing/0001006837-26-000045.json
- Plain text: https://secwatch.observer/filing/0001006837-26-000045.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.