INNOVATE Corp.

INNOVATE Corp. stockholders held their Annual Meeting on June 11, 2026, where they elected four nominees to the Board of Directors. Shareholders also approved, on a non-binding advisory basis, the compensation of the company's named executive officers. Additionally, an amendment to the 2014 Omnibus Equity Award Plan was approved to increase available shares, and the appointment of BDO USA, P.C. as the independent auditor for 2026 was ratified.

INNOVATE Corp. announced the sale of a controlling interest in its subsidiary, HC2 Broadcasting Holdings Inc. (Broadcasting), to CONX CORP. Following the transaction, CONX is expected to own approximately 75% of Broadcasting, with INNOVATE retaining about 25%. Concurrently, Broadcasting completed a $105 million refinancing transaction, using the proceeds to satisfy existing notes. CONX will also provide an equity commitment of up to $75 million to Broadcasting post-merger, and INNOVATE has an option to repurchase up to 15% of Broadcasting within 18 months.

INNOVATE Corp. announced strong first quarter 2026 results, with consolidated revenue increasing 33.0% to $364.8 million and Total Adjusted EBITDA surging 173.6% to $19.7 million. The company significantly reduced its net loss attributable to common stockholders by 30.6% to $17.2 million. Key drivers included robust performance in the Infrastructure segment and a major regulatory approval for MediBeacon in Life Sciences, partially offset by declines in the Spectrum segment.

INNOVATE Corp. has disclosed substantial doubt about its ability to continue as a going concern, citing upcoming debt maturities and potential covenant breaches. Despite this, the company reported an improved net loss attributable to INNOVATE Corp. of $(16.8) million for the first quarter of 2026, compared to $(24.5) million in the same period last year. Revenue significantly increased by 33% to $364.8 million, primarily driven by strong performance in its Infrastructure segment.

INNOVATE Corp. announced its 2026 Annual Meeting of Stockholders will be held virtually on June 11, 2026. Key proposals include the election of four directors, an advisory vote on executive compensation, and an amendment to increase shares available under the 2014 Omnibus Equity Award Plan. The company also highlighted positive 2025 business performance, including DBM Global's revenue growth and MediBeacon's regulatory approvals, alongside debt refinancing transactions.

INNOVATE Corp. announced it will release its first quarter 2026 financial results on Thursday, May 14, 2026, after the market closes. The company will also host an earnings conference call on the same day at 4:30 p.m. ET to discuss the results, operations, and strategy. Dial-in instructions for the live call and a replay, available until May 28, 2026, were provided, along with details for accessing the live broadcast and replay via the company's Investor Relations website.

Innovate Corp. announced that its portfolio company, DBM Global, will pay a cash dividend. This indicates a positive financial performance by DBM Global and could potentially increase the value of Innovate Corp's investment in DBM Global.