Innovate Corporation
10/09/2026 | Press release | Distributed by Public on 10/09/2026 14:16
Material Agreement (Form 8-K)
| Item 1.01 | Entry into a Material Definitive Agreement |
INNOVATE Corp., a Delaware corporation (the "Company") has entered into a supplemental indenture (the "Supplemental Indenture") to the indenture, dated August 4, 2025 (the "Indenture"), among the Company, certain subsidiary guarantors, and U.S. Bank Trust Company, National Association, as trustee and collateral trustee, governing the 9.500% Convertible Senior Secured Notes due 2027 (the "Convertible Notes").
The Supplemental Indenture amends the Indenture to (1) require the redemption of all Convertible Notes on the 15th business day following the termination of the lock-up period applicable to the stock consideration the Company received in connection with its previously announced sale of DBMG Global Inc. (the "DBMG Sale") for a cash purchase price equal to 100% of the principal amount thereof plus accrued and unpaid interest to, but excluding, the date of redemption and (2) correspondingly, confirm that no offer to repurchase the Convertible Notes need be made. The lock-up period will expire upon the earlier of December 4, 2026 and the date that a registration statement that registers the resale by the Company of all shares received as stock consideration in connection with the DBMG Sale is deemed effective.
The foregoing description of the Supplemental Indenture is a summary and is qualified in its entirety by reference to the Supplemental Indenture, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
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