Recent 8-K filings for VATE
Highest-materiality recent filing
INNOVATE closes $360M 10.5% notes and $54M 9.5% convertible debt refinancing
- 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.
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INNOVATE to sell 75% of Broadcasting to CONX Corp.; $105M bridge loan refinances existing debt
Net to INNOVATE: retains 25% of Broadcasting post-merger; CONX provides up to $75M equity commitment.
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Infrastructure segment revenue $357.9M (+35.1% YoY); DBMG reported backlog $1.6B, adjusted backlog $1.8B.
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INNOVATE subsidiary DBM Global to pay $3M dividend; INNOVATE to receive ~$2.7M
DBM Global to pay ~$3M cash dividend ($0.78/share) on April 28, 2026; record date April 13, 2026.
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INNOVATE's MediBeacon receives CE Mark for TGFR Monitor and Reusable Sensor under EU MDR
MediBeacon (equity method investment of INNOVATE) obtained EU CE Mark under MDR for TGFR Monitor and Reusable Sensor.
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INNOVATE Q4 rev surges 62% to $382.7M; net loss narrows to $7.8M; backlog $1.8B
Q4 revenue $382.7M (+61.7% YoY); net loss $7.8M ($0.58 EPS) vs $16.9M loss a year ago.
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MediBeacon TGFR article named 2025 JASN Editors’ Choice; commercial rollout started Jan 2026
MediBeacon's transdermal GFR article selected as one of five 2025 Editors' Choice articles by JASN.
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INNOVATE's subsidiary DBM Global declares $5M cash dividend; VATE to receive ~$4.6M
DBM Global declares $5M cash dividend ($1.30/share) payable Feb 24, 2026 to holders of record Feb 9, 2026.
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INNOVATE's MediBeacon receives FDA approval for next-gen TGFR System
MediBeacon (44.7%-owned by VATE) gets FDA nod for TGFR System with reusable sensor.
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Revenue $347.1M, up 43.3% YoY; net loss attributable to common/preferred $9.4M vs $15.3M; EPS -$0.71 vs -$1.18.
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MediBeacon receives NMPA approval for Transdermal GFR System in China; sales expected by year-end
NMPA approved Lumitrace (relmapirazin) injection and MediBeacon TGFR Monitor/Sensor for kidney function assessment in China.
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INNOVATE's DBM Global to pay $8.8M cash dividend; INNOVATE to receive ~$8M
DBM Global will pay a cash dividend of $8.8 million ($2.28 per share) on Nov 10, 2025.
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INNOVATE subsidiary R2 posts Q2 2025 revenue growth of 88% YoY; global system sales up 125%
R2's Q2 2025 revenue increased 88% vs Q2 2024; global system sales surged 125% YoY.
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INNOVATE closes $360M 10.5% notes and $54M 9.5% convertible debt refinancing
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.
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INNOVATE Q2 revenue falls 23% to $242M; net loss of $22M vs prior-year profit of $14.1M
Revenue $242M, down 22.7% YoY; net loss of $22M vs net income $14.1M in Q2 2024.
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INNOVATE Corp. successfully exchanges 99.4% of 8.5% senior secured notes for 10.5% notes due 2027
US$328.1M of US$330M outstanding (99.41%) tendered for exchange; early settlement expected Aug 4, 2025.
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INNOVATE's unit DBM Global to pay $4.4M cash dividend; INNOVATE expects $4M
DBM Global declares $4.4M cash dividend ($1.14/share) payable Aug 21, 2025 to holders of record Aug 7, 2025.
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Exchange of $48.7M 7.5% Convertible Notes due 2026 for $51.1M 9.5% Convertible Notes due 2027, secured by second-priority lien.
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INNOVATE Corp. annual meeting elects directors, approves say-on-pay, ratifies BDO USA
Four director nominees elected: Avram A. Glazer, Warren H. Gfeller, Brian S. Goldstein, Amy M. Wilkinson (avg ~8.85M for).
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INNOVATE's subsidiary DBM Global declares $5.5M cash dividend; INNOVATE to receive ~$5M
DBM Global will pay $5.5M ($1.42/share) cash dividend on June 16, 2025 to holders of record June 2, 2025.
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DBM Global enters $220M credit facility to refinance debt, provide working capital
$85M term loan + $135M revolver (total $220M) from syndicate led by UMB Bank, N.A.
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INNOVATE Q1 revenue $274.2M (-13% YoY); net loss widens to $24.8M; MediBeacon TGFR gets FDA approval
Revenue $274.2M, down 13% YoY; net loss attributable to common $24.8M ($1.89 per share), vs $17.7M loss YoY.
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Q4 2024 revenue $236.6M (-34.5% YoY); net loss attributable to common $16.9M ($1.29 loss per share).
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INNOVATE extends revolving credit facility maturity to Aug 1, 2025
Sixth Amendment to Credit Agreement dated March 13, 2020, with MSD PCOF Partners IX, LLC as lender.
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MediBeacon's Transdermal GFR Monitor and Sensor approved by China NMPA; Lumitrace under review
China NMPA approved MediBeacon TGFR Monitor and Sensor for kidney function assessment; Lumitrace injection still under review, target approval late 2025.
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MediBeacon TGFR System Receives FDA Approval for Kidney Function Assessment
FDA approved MediBeacon Transdermal GFR (tGFR) for assessing kidney function in adults with normal or impaired renal function without input of age, sex, race.
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INNOVATE portfolio co R2 Technologies reports record Q2/Q3: unit sales up 294% YoY
R2 Q2/Q3: 294% increase in worldwide Glacial Skin system unit sales vs prior year.
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INNOVATE Q3 revenue $242.2M (-35.5% YoY); net loss $15.3M vs $7.3M loss YoY
DBM Global revenue $232.8M (-37% YoY); gross margins expanded 360 bps to 18.8%
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INNOVATE Corp. regains NYSE minimum share price compliance
Received NYSE notice on August 27, 2024 that it regained compliance with Section 802.01C.
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INNOVATE Corp. executes 1-for-10 reverse stock split effective Aug 8, 2024
Board-approved 1-for-10 reverse split filed in Delaware Aug 8, 2024; effective 5:00 p.m. ET same day.
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INNOVATE Q2 net income $14.1M vs loss $10.5M YoY; revenue $313M (-15%), adj. EBITDA $26.7M
Revenue $313.1M (-15.1% YoY); net income $14.1M vs loss $10.5M; diluted EPS $0.10 vs ($0.13).
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INNOVATE shareholders approve reverse split, authorized shares increase; 44.7M shares converted
Shareholders approved reverse stock split of common stock (69.5M for, 3.6M against).
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Innovate Corp. annual meeting adjourned due to technical issues; reconvened June 18
Annual meeting scheduled June 13 adjourned without business due to third-party hosting site technical difficulties.
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INNOVATE Q1 revenue $315M (-0.8%); net loss $17.7M, adj EBITDA $12.8M (+161%)
Revenue $315.2M (down 0.8% YoY); net loss attributable to common $17.7M vs $10.2M loss in Q1 2023.
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Rights offering expired Apr. 19, 2024; 5.3M common shares at $0.70/share raised $3.7M in gross proceeds.
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INNOVATE Corp. announces preliminary results of rights offering; expects ~$35M gross proceeds
18.1M basic subscription rights exercised to purchase 5.2M shares of common stock at $0.70/share.
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INNOVATE Corp. extends $19M rights offering deadline to April 19
Rights offering for common stock, originally $19M, extended to 5:00 p.m. ET on April 19, 2024.
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INNOVATE Corp. raises $25M via Series C convertible preferred sale to Lancer Capital
Issued 25,000 shares of Series C Non-Voting Convertible Preferred to Lancer Capital for $25M.
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INNOVATE extends $19M rights offering subscription period to April 9, 2024
Extends $19M common stock rights offering subscription period to 5:00 p.m. ET on April 9, 2024.
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INNOVATE Corp. amends 10-K auditor consent to fix omitted S-3 reference
Revised consent of BDO USA, P.C. now includes reference to Form S-3 (No. 333-274760).
Earnings & guidance
Materiality & sentiment trend
Max materiality 0.90 · Median 0.60 · Most common event other_material