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. 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.
INNOVATE Corp. reported stronger first quarter 2026 results, with consolidated revenue of $364.8 million, up 33.0% from $274.2 million a year earlier, driven mainly by its Infrastructure segment.
Net loss attributable to common and participating preferred stockholders improved to $17.2 million, or $1.29 per share, compared with $24.8 million, or $1.89 per share. Total Adjusted EBITDA rose sharply to $19.7 million from $7.2 million, helped by better performance in Infrastructure and reduced losses in Life Sciences.
Infrastructure subsidiary DBM Global generated revenue of $357.9 million, up 35.1%, and Adjusted EBITDA of $23.0 million, supported by large structural steel projects and reported backlog of $1.6 billion with adjusted backlog of $1.8 billion. Life Sciences saw MediBeacon obtain CE mark approval in Europe for its Transdermal GFR Monitor and Reusable Sensor, while R2’s international system sales grew. Spectrum revenue declined to $5.3 million and Adjusted EBITDA to $0.7 million amid softer advertising and network terminations.
INNOVATE Corp. is holding its 2026 annual stockholder meeting virtually on June 11, 2026, where common and preferred holders will vote together on four key proposals.
Stockholders will elect four directors, cast an advisory vote on executive pay, approve an increase in shares available under the Second Amended and Restated 2014 Omnibus Equity Award Plan, and ratify BDO USA, P.C. as auditor. The board recommends voting FOR all items.
The proxy also highlights 2025 business results, including DBM Global revenue of $1,210.3 million, up 12.9% year-over-year, MediBeacon kidney-function product approvals in the U.S. and China, and record revenue at R2 Technologies. Governance features include a separate independent chair and CEO, majority voting for uncontested director elections, performance-based compensation, and minimum one-year vesting on equity awards. In 2025 the interim CEO’s reported pay was $1.84 million and the CFO’s was $0.94 million, combining salary, equity and incentives aligned with company performance.
INNOVATE Corp. reported that its portfolio company DBM Global Inc. (DBMG), an operating subsidiary providing integrated steel construction services, has declared a cash dividend of approximately $3 million, or $0.78 per share.
The dividend is scheduled to be paid on April 28, 2026 to DBMG stockholders of record as of the close of business on April 13, 2026. As DBMG’s largest stockholder, INNOVATE expects to receive approximately $2.7 million of the total dividend. The company clarified that INNOVATE’s own stockholders will not receive this cash dividend; it is paid only to DBMG’s stockholders.
INNOVATE Corp. reports that its equity method investment MediBeacon has received European Union CE Mark certification under the EU Medical Device Regulation 2017/745 for its TGFR Monitor and TGFR Reusable Sensor. This confirms the devices meet EU safety, quality, and performance standards.
The TGFR System combines the Monitor, Reusable Sensor, Disposable Ring, and Lumitrace (relmapirazin) injection to assess kidney function by measuring fluorescent tracer clearance through the skin, providing a transdermal measure of glomerular filtration rate. Lumitrace injection is approved in the U.S. and China, with an EU submission pending, and the system is already approved for human use by the U.S. FDA and China NMPA.
INNOVATE Corp. is a diversified holding company with three main platforms: Infrastructure (DBM Global), Life Sciences (Pansend) and Spectrum (HC2 Broadcasting), plus smaller investments. The report notes substantial doubt about the company’s ability to continue as a going concern, driven by high leverage and restrictive covenants.
New milestone covenants tied to 2027 senior notes and other debt have forced sales processes for the Infrastructure and Spectrum segments. DBM Global generated $1,210.3 million of 2025 revenue with a $1,723.9 million backlog and a large project pipeline, but must be marketed for sale after missing required asset-sale milestones.
Pansend controls R2 Technologies and Genovel, and holds a 44.6% stake in MediBeacon, whose TGFR kidney function system received FDA and China approvals in 2025. HC2 Broadcasting operates 257 TV stations across 112 U.S. and Puerto Rico markets using a cloud-based IP backbone. The company also discloses significant holding-company debt and reliance on subsidiary distributions for liquidity.
INNOVATE Corp. reported strong fourth-quarter 2025 growth but remained unprofitable. Revenue for the quarter rose to $382.7 million, up 61.7% from $236.6 million, driven mainly by the Infrastructure segment. Full-year revenue reached $1,246.0 million, up 12.5% from $1,107.1 million.
Quarterly net loss attributable to common and participating preferred stockholders narrowed to $7.8 million (loss of $0.58 per share) from $16.9 million (loss of $1.29 per share), though the full-year loss widened to $64.0 million from $35.8 million. Total Adjusted EBITDA improved in the quarter to $24.5 million from $15.0 million, but declined for the year to $67.2 million from $71.3 million.
Infrastructure revenue climbed to $373.9 million in Q4, with adjusted backlog of $1.8 billion, up from $1.1 billion a year earlier. In Life Sciences, MediBeacon received U.S. FDA approval for its next-generation TGFR system, while R2 delivered full-year 2025 revenue of $12.5 million, up 27.6%. Spectrum faced softer advertising and lower revenue, but cited favorable FCC rulings, new network launches and successful datacasting trials as 2026 growth drivers. Cash and cash equivalents rose to $112.1 million, while total debt stood at $661.7 million and stockholders’ deficit was $226.2 million.
INNOVATE Corp. Chief Financial Officer Michael J. Sena reported routine tax-related share dispositions. Over three days, a total of 7,911 shares of common stock were withheld by the company to cover taxes tied to vesting of restricted stock, at prices between $4.22 and $4.35 per share. After these non-market tax-withholding transactions, he directly holds 115,982 common shares.