{"filing":{"accession_number":"0001006837-26-000045","cik":"0001006837","ticker":"VATE","company_name":"INNOVATE Corp.","form":"8-K","filing_date":"2026-06-01","report_date":null,"primary_document":"hchc-20260529.htm","primary_document_url":"https://www.sec.gov/Archives/edgar/data/1006837/000100683726000045/hchc-20260529.htm"},"events":[{"id":7688,"run_id":6758,"accession_number":"0001006837-26-000045","anchor_item_number":"1.01","event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.97,"summary":"INNOVATE Corp.'s indirect subsidiary HC2 Broadcasting Holdings Inc. will merge with CONX Corp., with Broadcasting surviving as a CONX subsidiary. The transaction involves a significant restructuring of equity ownership (25% to Broadcasting shareholders, 75% to CONX/Merger Sub), $75 million in equity commitments, extinguishment of existing debt obligations, and ancillary financing including a $105 million bridge facility.","company_name":"INNOVATE Corp.","ticker":"VATE","filing_date":"2026-06-01","form":"8-K","submitted_at":null,"items":[{"id":2980,"accession_number":"0001006837-26-000045","item_number":"1.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.98,"reasoning":"This Item 1.01 discloses entry into a material definitive agreement for a merger transaction. HC2 Broadcasting Holdings Inc. (an indirect subsidiary of INNOVATE Corp.) will merge with CONX Corp., with Broadcasting surviving as a CONX subsidiary. The transaction involves a significant restructuring of equity ownership (25% to Broadcasting shareholders, 75% to CONX/Merger Sub), $75 million in equity commitments, and extinguishment of existing debt obligations. The filing also documents ancillary financing (New Loan Agreement for $105 million bridge facility), amendments to existing credit facilities, and option agreements—all integral to the transaction structure. This is a classic material acquisition/change of control event requiring Item 1.01 disclosure.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-02T02:13:09.303837+00:00","company_name":"","ticker":null,"filing_date":""},{"id":2981,"accession_number":"0001006837-26-000045","item_number":"2.03","item_title":null,"event_type":"other_material","event_domain":"catchall","is_material":true,"confidence":0.65,"reasoning":"Item 2.03 discloses creation of a direct financial obligation via a new loan agreement (incorporated by reference from Item 1.01). While the Item 2.03 heading suggests a debt covenant or financial obligation event, the actual substance appears to be a new financing arrangement rather than a covenant breach or default. Without access to the Item 1.01 details, the most appropriate classification is \"other_material\" — a material financing event that does not fit the more specific \"covenant_breach\" category, which typically signals acceleration or violation of existing obligations.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-02T02:13:09.303837+00:00","company_name":"","ticker":null,"filing_date":""},{"id":2982,"accession_number":"0001006837-26-000045","item_number":"7.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.92,"reasoning":"The filing discloses announcement of a \"Merger and the related transactions\" via press release on June 1, 2026. Although disclosed under Item 7.01 (Regulation FD Disclosure) rather than the typical Item 1.01 or 2.01, the substance is a material acquisition/merger event. Mergers are among the most material corporate events affecting investor assessment of the registrant.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-02T02:13:09.303837+00:00","company_name":"","ticker":null,"filing_date":""}]}],"classifications":[{"id":2980,"accession_number":"0001006837-26-000045","item_number":"1.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.98,"reasoning":"This Item 1.01 discloses entry into a material definitive agreement for a merger transaction. HC2 Broadcasting Holdings Inc. (an indirect subsidiary of INNOVATE Corp.) will merge with CONX Corp., with Broadcasting surviving as a CONX subsidiary. The transaction involves a significant restructuring of equity ownership (25% to Broadcasting shareholders, 75% to CONX/Merger Sub), $75 million in equity commitments, and extinguishment of existing debt obligations. The filing also documents ancillary financing (New Loan Agreement for $105 million bridge facility), amendments to existing credit facilities, and option agreements—all integral to the transaction structure. This is a classic material acquisition/change of control event requiring Item 1.01 disclosure.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-02T02:13:09.303837+00:00","company_name":"INNOVATE Corp.","ticker":"VATE","filing_date":"2026-06-01"},{"id":2981,"accession_number":"0001006837-26-000045","item_number":"2.03","item_title":null,"event_type":"other_material","event_domain":"catchall","is_material":true,"confidence":0.65,"reasoning":"Item 2.03 discloses creation of a direct financial obligation via a new loan agreement (incorporated by reference from Item 1.01). While the Item 2.03 heading suggests a debt covenant or financial obligation event, the actual substance appears to be a new financing arrangement rather than a covenant breach or default. Without access to the Item 1.01 details, the most appropriate classification is \"other_material\" — a material financing event that does not fit the more specific \"covenant_breach\" category, which typically signals acceleration or violation of existing obligations.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-02T02:13:09.303837+00:00","company_name":"INNOVATE Corp.","ticker":"VATE","filing_date":"2026-06-01"},{"id":2982,"accession_number":"0001006837-26-000045","item_number":"7.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.92,"reasoning":"The filing discloses announcement of a \"Merger and the related transactions\" via press release on June 1, 2026. Although disclosed under Item 7.01 (Regulation FD Disclosure) rather than the typical Item 1.01 or 2.01, the substance is a material acquisition/merger event. Mergers are among the most material corporate events affecting investor assessment of the registrant.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-06-02T02:13:09.303837+00:00","company_name":"INNOVATE Corp.","ticker":"VATE","filing_date":"2026-06-01"}]}