We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
INNOVATE Corp | NYSE:VATE | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.0669 | 8.58% | 0.8468 | 0.8489 | 0.747 | 0.7799 | 141,332 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): | August 2, 2022 |
INNOVATE CORP.
(Exact name of registrant as specified in its charter)
Delaware | 001-35210 | 54-1708481 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
295 Madison Avenue, 12th Floor | ||
New York, NY | 10017 | |
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: | (212) 235-2690 |
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol | Name of each exchange on which registered |
Preferred Stock Purchase Rights | N/A | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ |
Item 1.01. Entry into a Material Definitive Agreement.
On August 2, 2022, DBM Global Inc. (“DBM”), a subsidiary of INNOVATE Corp. (the “Company”), and certain other borrowers entered into an amendment (the “Amendment”) to the Credit Agreement, dated as of May 27, 2021, by and among DBM, the other borrowers party thereto, the lenders party thereto and UMB Bank, N.A., as Administrative Agent (the “Credit Agreement”). The Amendment, among other things, increases the revolving commitment under the Credit Agreement by $25.0 million, to an aggregate amount of $135.0 million, and revises the requirement to maintain a Fixed Charge Coverage Ratio to 1.30 to 1.00 from 1.20 to 1.00 as of the last day of any fiscal quarter after June 30, 2022.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosure set forth under Item 1.01 of this current report on Form 8-K is incorporated by reference herein.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: August 3, 2022
INNOVATE Corp. (Registrant) | |||||
By: | /s/ Michael J. Sena | ||||
Name: Michael J. Sena | |||||
Title: Chief Financial Officer |
1 Year INNOVATE Chart |
1 Month INNOVATE Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions