Welcome to our dedicated page for INNOVATE SEC filings (Ticker: VATE), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
INNOVATE Corp.'s SEC filings document a diversified holding company with Infrastructure, Life Sciences and Spectrum portfolio interests. Form 8-K reports furnish earnings releases, investor presentations, subsidiary dividend announcements, and portfolio-company events involving DBM Global and MediBeacon, including regulatory updates for the MediBeacon TGFR System.
The filings also identify VATE common stock listed on the New York Stock Exchange and preferred stock purchase rights. Proxy materials cover governance matters, executive compensation, equity awards, and pay-versus-performance disclosures, while event reports and exhibits provide formal records of operating results, Regulation FD presentations, and other public-company disclosures.
INNOVATE Corp. filed a shelf registration statement allowing it to offer, from time to time, up to $100,000,000 of common stock, preferred stock, depositary shares, warrants, subscription rights, purchase contracts and purchase units. Specific terms and pricing will be detailed in future prospectus supplements.
The company is a diversified holding company with Infrastructure, Life Sciences and Spectrum segments, but has entered into agreements to sell its 91.21% interest in DBM Global (Infrastructure) to IES Holdings and to merge its Spectrum business with CONX Corp. INNOVATE discloses that, if completed, these transactions would eliminate substantially all consolidated operating revenue and primary subsidiary cash flows, leaving mainly minority investments, the Life Sciences segment and limited Other activities.
The risk factors highlight substantial indebtedness, milestone covenants tied to at least $150 million of asset-sale net proceeds for its 10.50% Senior Secured Notes due 2027, substantial doubt about the company’s ability to continue as a going concern, and that common stockholders should not expect to receive proceeds from the DBMG Sale or Spectrum Merger. Following asset sales, INNOVATE expects to qualify as a transient investment company under the Investment Company Act and may face constraints on future investments. Net proceeds from any securities issuance are expected to be used for general corporate purposes, including financing operations and possible debt repayment.
INNOVATE Corp. is establishing an at-the-market equity program to sell up to $31 million of common stock through Jefferies LLC under an open market sales agreement. Jefferies will act as sales agent on a commercially reasonable efforts basis and receive a 3.0% commission on gross proceeds, with sales executed primarily on the New York Stock Exchange under the symbol VATE.
The company intends to use any net proceeds for general corporate purposes, including working capital, paying interest and potentially repaying, refinancing, redeeming or reducing outstanding indebtedness. As of June 30, 2026, INNOVATE had $732.2 million of consolidated debt and historical net tangible book value of $(37.32) per share, leading to modeled immediate dilution of $41.73 per share at an assumed price of $12.11.
INNOVATE is pursuing major asset sales, including the DBMG Sale and the Spectrum Merger, which, if completed, would eliminate substantially all consolidated operating revenue and leave the company dependent on transaction proceeds, minority investments and its Life Sciences and Other segments. The company discloses substantial doubt about its ability to continue as a going concern and warns that stockholders should not expect to receive proceeds from the DBMG Sale, which are expected to be applied to debt obligations.
INNOVATE Corp. agreed to sell its approximately 91.21% stake in DBM Global Inc. to IES Holdings as part of a transaction valuing DBMG at $650 million, with customary closing adjustments. INNOVATE will receive about $453 million in cash and 215,487 IES common shares (valued at $140 million under the agreement), plus an additional $35 million cash tied to a Section 338 tax election.
The company plans to use all net cash proceeds and any sale proceeds from the stock consideration to repay its revolving credit facility, mandatorily redeem its 10.500% Senior Secured Notes due 2027, and then fund the required offer to purchase its 9.5% Convertible Senior Secured Notes due 2027 at 100% of principal plus accrued interest. Supplemental indentures modify note covenants so the DBMG sale is not an Asset Sale or Change of Control and require net cash proceeds to redeem the secured notes within 15 days and to fund the convertible note offer within 45 days of closing.
INNOVATE also put in place an at-the-market program with Jefferies to sell up to $31 million of common stock, paying a 3.0% commission on gross proceeds. Together with a separate Broadcasting disposition, the DBMG sale is expected to eliminate substantially all consolidated operating revenue and leave INNOVATE primarily with sale proceeds applied to debt, a minority interest in the post-merger broadcasting entity, its Life Sciences segment and limited other activities; the company warns past results will not be indicative of future performance and that it may temporarily qualify as an inadvertent investment company under the Investment Company Act.
INNOVATE Corp. reported much stronger operating results for the quarter ended June 30, 2026, led by its Infrastructure segment. Revenue was $421.6 million versus $242.0 million a year earlier, and net income attributable to INNOVATE was $10.7 million compared with a $19.8 million loss. Basic EPS turned to a profit of $0.74 from a loss of $1.67. For the first half of 2026 the company still posted a net loss of $4.7 million, but operating cash flow was positive at $20.9 million.
The balance sheet remains highly leveraged and in deficit. Total assets were $1,006.7 million against $626.4 million of debt, including $553.9 million classified as current, and stockholders’ deficit was $228.6 million. Management states there is “substantial doubt” about the company’s ability to continue as a going concern within one year due to upcoming maturities and covenant risks on the 10.50% 2027 Senior Secured Notes and other obligations. To address this, INNOVATE is pursuing asset sales, including a Spectrum broadcasting merger that reclassifies that segment as held for sale, and exploring refinancings and capital raises. Infrastructure backlog remained large, with $1,901.0 million in remaining performance obligations.
INNOVATE Corp. reported a sharply improved second quarter for 2026. Consolidated revenue rose to $421.6 million, up 74.2% year over year, driven mainly by the Infrastructure segment. Net income attributable to common and participating preferred stockholders was $10.4 million, or $0.71 per diluted share, versus a $22.0 million loss a year earlier. Total Adjusted EBITDA increased to $46.3 million from $15.7 million.
DBM Global (Infrastructure) generated revenue of $414.0 million and grew reported and adjusted backlog to $1.9 billion and $2.7 billion. Life Sciences revenue declined to $2.2 million, while Spectrum revenue was $5.4 million with $8.4 million of net income helped by a refinancing-related gain on extinguishment of debt.
The company is pursuing “highly substantial” asset dispositions, including a potential sale of all or substantially all of DBMG and a majority interest in Broadcasting, and had total debt of $616.0 million at June 30, 2026. Risk disclosures note “substantial doubt about our ability to continue operating as a going concern” amid these planned transactions and its leveraged capital structure.
INNOVATE Corp. amended the indentures governing its 10.500% Senior Secured Notes due 2027 and 9.5% Convertible Senior Secured Notes due 2027 through supplemental indentures dated July 31, 2026. For consenting holders, interest for the period from February 1, 2026 through July 31, 2026 may be paid in kind by increasing principal or issuing additional Notes, and those holders receive a consent fee of 1.5% of principal in additional Notes. Non-consenting holders continue under existing cash interest terms.
For the August 1, 2026 interest payment, the outstanding principal of the 10.500% 2027 Senior Secured Notes will be $400.9 million, with cash interest of $3.1 million instead of $19.9 million. The outstanding principal of the 2027 Convertible Notes will be $58.9 million, with cash interest of $0.5 million instead of $2.7 million. Related party Lancer Capital LLC consented on its 2027 Convertible Notes and received an additional $0.1 million principal amount as payment in kind and consent fee. Separately, the maturity of the senior secured Lancer Note held by Lancer Capital LLC against R2 Technologies, Inc. was extended from August 1, 2026 to December 31, 2026.
INNOVATE Corp. announced that its portfolio company DBM Global Inc. (DBMG) plans to pay a cash dividend of approximately $12 million, or $3.12 per share. The dividend is payable on August 3, 2026 to DBMG stockholders of record as of the close of business on July 20, 2026.
As DBMG’s largest stockholder, INNOVATE expects to receive approximately $11 million of the total payout. INNOVATE’s own stockholders will not receive this dividend directly, as it is being paid at the DBMG subsidiary level.
Innovate Corp. reported the results of its Annual Meeting of Stockholders held on June 11, 2026. Stockholders elected four directors — Avram A. Glazer, Warren H. Gfeller, Brian S. Goldstein and Amy M. Wilkinson — to serve until the 2027 annual meeting.
Stockholders also approved, on a non-binding advisory basis, the compensation of the company’s named executive officers and approved an amendment to the Second Amended and Restated 2014 Omnibus Equity Award Plan to increase the shares available for equity awards. In addition, they ratified the appointment of BDO USA, P.C. as independent registered public accounting firm for the fiscal year ending December 31, 2026.
INNOVATE Corp. has agreed to a merger transaction that will transfer control of its Broadcasting subsidiary to CONX Corp., subject to regulatory approvals. After closing, CONX is expected to own about 75% of Broadcasting, while INNOVATE will retain roughly 25% through HC2 Holdco.
To support the deal and clean up legacy debt, Broadcasting entered into a new $105 million bridge loan from a CONX subsidiary. The proceeds fully satisfied its 8.50% and 11.45% notes, funded repurchases of certain equity interests, and covered transaction costs. This bridge loan bears 8.00% annual interest, matures in one year and will be extinguished, rather than repaid in cash, when the merger closes, provided conditions are met.
CONX has also committed up to $75 million of post-closing equity funding for Broadcasting. INNOVATE obtained an 18‑month option to buy up to 15% of the surviving entity’s equity from CONX, while a CONX affiliate received a two‑year option to acquire up to 80.1% of Broadcasting’s equity on a fully diluted basis. INNOVATE amended its existing notes and credit agreement, with lenders consenting to the merger, the new loan and waiving related defaults.
INNOVATE Corp. reported Q1 2026 results with revenue of $364.8 million, up from $274.2 million a year earlier, driven mainly by the Infrastructure segment. Despite this growth, the company posted a net loss attributable to common stockholders of $17.2 million, or $1.29 per share, improved from a $24.8 million loss.
Operations generated $45.5 million of cash versus a $14.1 million outflow in Q1 2025, helped by working-capital movements. However, total debt principal was $699.0 million, with $610.8 million classified as current and stockholders’ deficit at $243.0 million.
The notes disclose substantial doubt about the company’s ability to continue as a going concern within one year, citing large upcoming maturities, cross‑default risks on its 10.50% 2027 Senior Secured Notes, and required asset-sale milestones. Management is exploring asset sales, refinancings and capital raises, but there is no assurance these plans will succeed.