SEC Form 4 · accession 0001006837-18-000150

INNOVATE Corp. · VATE

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Director

Period of report

Nov 8, 2018

Accepted (ET)

Nov 23, 2018 · 3:53 pm EST

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	Nov 8, 2018	L	400	$5.22	A	56,580	D
Common Stock	Nov 9, 2018	L	400	$4.95	A	56,980	D
Common Stock	Nov 14, 2018	L	200	$3.4923	A	57,180	D
Common Stock	Nov 21, 2018	P	1,000	$3.05	A	58,180	D
Common Stock^F1	holding	—	—		—	200,000	I	CCUR Holdings, Inc.

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
7.5% Conv Senior Note due 2022 (conv into common stock)^F2,F1	$4.38	Nov 20, 2018	P	—	A	—	—	Common Stock	570,776	570,776	I

F1Held by CCUR Holdings, Inc. ("CCUR"), of which the Reporting Person is Chairman, President and CEO. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. This filing shall not be deemed an admission that the Reporting Person is, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, the beneficial owner of any securities covered by this filing.
F2On Nov 20, 2018, CCUR purchased $2,500,000 in aggregate principal amount of the Issuer's 7.5% convertible senior notes due 2022 (the "Convertible Notes"). The Convertible Notes bear interest at a rate of 7.5% per annum, payable semi-annually in arrears on June 1 and December 1 of each year, beginning on June 1, 2019, unless converted, redeemed or repurchased in accordance with their terms prior to June 1, 2022 (the "maturity date"). The Convertible Notes are convertible at CCUR's option into shares of the Issuer's Common Stock based on an initial conversion rate of 228.3105 shares of Common Stock per $1,000 principal amount of Convertible Notes (equivalent to an initial conversion price of $4.38 per share of the Issuer's Common Stock), subject to certain adjustments, at any time prior to the close of business on the business day immediately preceding the maturity date, in principal amounts of $1,000 or an integral multiple of $1,000 in excess thereof.