{"filing":{"accession_number":"0001006837-26-000110","cik":"0001006837","ticker":"VATE","company_name":"INNOVATE Corp.","form":"8-K","filing_date":"2026-09-02","report_date":"2026-08-28","primary_document":"hchc-20260828.htm","primary_document_url":"https://www.sec.gov/Archives/edgar/data/1006837/000100683726000110/hchc-20260828.htm"},"events":[{"id":31318,"run_id":28731,"accession_number":"0001006837-26-000110","anchor_item_number":"2.01","event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.96,"summary":"INNOVATE Corp. completed the disposition of a controlling 75% interest in HC2 Broadcasting Holdings Inc. (its Broadcasting segment) to CONX on September 1, 2026, while retaining 25% ownership and future call/put options. The transaction involved extinguishment of a $105 million bridge loan facility and up to $75 million in equity commitments by CONX, representing a material change of control and restructuring of a significant business segment.","company_name":"INNOVATE Corp.","ticker":"VATE","filing_date":"2026-09-02","form":"8-K","submitted_at":null,"items":[{"id":34158,"accession_number":"0001006837-26-000110","item_number":"1.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.95,"reasoning":"Item 1.01 discloses entry into material definitive agreements, but the dominant event is the completion of a disposition of a controlling interest in the Broadcasting segment through a merger of HC2 Broadcasting Holdings Inc., with CONX acquiring 75% ownership and INNOVATE retaining 25%. This is a material acquisition/disposition transaction that fundamentally restructures the company's ownership of a major business segment. The credit agreement amendment is secondary and routine by comparison.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-09-02T20:21:52.530647+00:00","company_name":"","ticker":null,"filing_date":""},{"id":34159,"accession_number":"0001006837-26-000110","item_number":"1.02","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.95,"reasoning":"Item 1.02 discloses the termination of a material definitive agreement (the $105 million loan agreement), which was extinguished as part of the closing of CONX's acquisition of a 75% controlling interest in HC2 Broadcasting Holdings Inc., INNOVATE's Broadcasting segment. The press release confirms the completion of this material acquisition transaction, where INNOVATE divested control of a major operating segment while retaining a 25% ownership stake and future call options. This is a material change of control event affecting a significant business unit.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-09-02T20:21:52.530647+00:00","company_name":"","ticker":null,"filing_date":""},{"id":34160,"accession_number":"0001006837-26-000110","item_number":"2.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.98,"reasoning":"The filing discloses the completion of a merger on September 1, 2026, whereby CONX acquired a controlling 75% interest in HC2 Broadcasting Holdings Inc., INNOVATE's broadcasting segment, while INNOVATE retained 25% ownership. The transaction involved a $105 million bridge loan facility extinguishment and up to $75 million in equity commitments by CONX, along with call and put options for future ownership adjustments. This is a material change of control and disposition of a significant business segment, clearly falling under Item 2.01 (Completion of Acquisition or Disposition of Assets).","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-09-02T20:21:52.530647+00:00","company_name":"","ticker":null,"filing_date":""},{"id":34161,"accession_number":"0001006837-26-000110","item_number":"7.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.95,"reasoning":"The filing discloses the closing of a material transaction in which CONX acquired a controlling 75% interest in HC2 Broadcasting Holdings Inc., INNOVATE's Broadcasting segment, while INNOVATE retained 25% ownership. This represents a completion of a material disposition/change of control event (Item 1.02 or 2.01 territory), disclosed here under Item 7.01 as a press release. The transaction includes significant financial commitments ($75 million equity funding by CONX, extinguishment of $105 million debt) and future option rights, making it clearly material to investors' assessment of INNOVATE's capital structure and business portfolio.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-09-02T20:21:52.530647+00:00","company_name":"","ticker":null,"filing_date":""}]}],"classifications":[{"id":34158,"accession_number":"0001006837-26-000110","item_number":"1.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.95,"reasoning":"Item 1.01 discloses entry into material definitive agreements, but the dominant event is the completion of a disposition of a controlling interest in the Broadcasting segment through a merger of HC2 Broadcasting Holdings Inc., with CONX acquiring 75% ownership and INNOVATE retaining 25%. This is a material acquisition/disposition transaction that fundamentally restructures the company's ownership of a major business segment. The credit agreement amendment is secondary and routine by comparison.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-09-02T20:21:52.530647+00:00","company_name":"INNOVATE Corp.","ticker":"VATE","filing_date":"2026-09-02"},{"id":34159,"accession_number":"0001006837-26-000110","item_number":"1.02","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.95,"reasoning":"Item 1.02 discloses the termination of a material definitive agreement (the $105 million loan agreement), which was extinguished as part of the closing of CONX's acquisition of a 75% controlling interest in HC2 Broadcasting Holdings Inc., INNOVATE's Broadcasting segment. The press release confirms the completion of this material acquisition transaction, where INNOVATE divested control of a major operating segment while retaining a 25% ownership stake and future call options. This is a material change of control event affecting a significant business unit.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-09-02T20:21:52.530647+00:00","company_name":"INNOVATE Corp.","ticker":"VATE","filing_date":"2026-09-02"},{"id":34160,"accession_number":"0001006837-26-000110","item_number":"2.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.98,"reasoning":"The filing discloses the completion of a merger on September 1, 2026, whereby CONX acquired a controlling 75% interest in HC2 Broadcasting Holdings Inc., INNOVATE's broadcasting segment, while INNOVATE retained 25% ownership. The transaction involved a $105 million bridge loan facility extinguishment and up to $75 million in equity commitments by CONX, along with call and put options for future ownership adjustments. This is a material change of control and disposition of a significant business segment, clearly falling under Item 2.01 (Completion of Acquisition or Disposition of Assets).","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-09-02T20:21:52.530647+00:00","company_name":"INNOVATE Corp.","ticker":"VATE","filing_date":"2026-09-02"},{"id":34161,"accession_number":"0001006837-26-000110","item_number":"7.01","item_title":null,"event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.95,"reasoning":"The filing discloses the closing of a material transaction in which CONX acquired a controlling 75% interest in HC2 Broadcasting Holdings Inc., INNOVATE's Broadcasting segment, while INNOVATE retained 25% ownership. This represents a completion of a material disposition/change of control event (Item 1.02 or 2.01 territory), disclosed here under Item 7.01 as a press release. The transaction includes significant financial commitments ($75 million equity funding by CONX, extinguishment of $105 million debt) and future option rights, making it clearly material to investors' assessment of INNOVATE's capital structure and business portfolio.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-09-02T20:21:52.530647+00:00","company_name":"INNOVATE Corp.","ticker":"VATE","filing_date":"2026-09-02"}]}