SEC Form 4 · accession 0000902664-15-003907
INNOVATE Corp. · VATE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Hudson Bay Capital Management LP
10% Owner
Sander Gerber
10% Owner
Hudson Bay Credit Management LLC
10% Owner
Period of report
Oct 9, 2015
Accepted (ET)
Oct 13, 2015 · 5:22 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001006837
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.001 ("Common Stock")F1,F2 | Oct 9, 2015 | S | 25,000 | $7.6505 | D | 838,872 | I | By Hudson Bay Absolute Return Credit Opportunities Master Fund, Ltd. |
| Common StockF3,F2 | Oct 12, 2015 | S | 62,500 | $7.9326 | D | 776,372 | I | By Hudson Bay Absolute Return Credit Opportunities Master Fund, Ltd. |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.56 to $7.7899, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares acquired at each price within the range set forth herein.
- F2The shares are held by Hudson Bay Absolute Return Credit Opportunities Master Fund, Ltd. (the "Fund"). Hudson Bay Credit Management LLC (the "Investment Manager") is the investment manager of the Fund. The sole member of the Investment Manager is Hudson Bay Capital Management L.P. As such, each of the Investment Manager and Hudson Bay Capital Management L.P. may be deemed to share beneficial ownership of the shares held by the Fund. As the managing member of the general partner of Hudson Bay Capital Management L.P., Mr. Sander Gerber may be deemed to share beneficial ownership of the shares held by the Fund. Each Reporting Person disclaims beneficial ownership of the shares held by the Fund, except to the extent of its or his pecuniary interest therein.
- F3The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.73 to $8.00, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares acquired at each price within the range set forth herein.