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.
“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.”
Earnings Releases
INNOVATE Corp. reported the fourth quarter and full year ended December 31, 2025 results: revenue $ 382.7, net income $ (7.8), EPS $(0.58).
“Summary (in millions, except per share amounts) Three Months Ended December 31, Year Ended December 31, 2025 2024 Increase / (Decrease) 2025 2024 Increase / (Decrease) Revenue $ 382.7 $ 236.6 61.7 % $ 1,246.0 $ 1,107.1 12.5 % Net loss attributable to common stockholders and participating preferred stockholders $ (7.8) $ (16.9) 53.8 % $ (64.0) $ (35.8) (78.8) %”
Earnings Releases
INNOVATE Corp. reported the quarter ended March 31, 2024 results: revenue $315.2 million, net income $17.7 million, EPS $0.22 per fully diluted share.
“stockholders $ (0.22) $ (0.13) (69.2) % Total Adjusted EBITDA (1) $ 12.8 $ 4.9 161.2 % (1) Reconciliation of GAAP to Non-GAAP measures follows Commentary “INNOVATE delivered $315.2 million in revenue in the first quarter as the three business segments experienced a strong start to 2024,” said Avie Glazer, Chairman of INNOVATE. “Infrastructure's first quarter top”
Governance Changes
INNOVATE Corp.: Filed Certificate of Designations for Series C Preferred Stock, amending the certificate of incorporation (effective 2024-03-28).
“On March 28, 2024, the Company amended its amended and restated certificate of incorporation by filing the Certificate of Designations of the Series C Preferred Stock (the “Series C Certificate of Designations”) with the Secretary of State of the State of Delaware on March 28, 2024.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.