Current Report Filing (8-k)
August 03 2022 - 04:03PM
Edgar (US Regulatory)
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2022-08-02 2022-08-02 0001006837
VATE:PreferredStockPurchaseRightsMember 2022-08-02 2022-08-02
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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 |
|
Common Stock, par value $0.001 per share |
VATE |
New York Stock Exchange |
|
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
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INNOVATE Corp.
(Registrant) |
| |
|
|
|
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|
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By: |
/s/ Michael J.
Sena |
| |
|
Name: Michael J. Sena |
| |
|
Title: Chief Financial
Officer |
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