SEC Form 4 · accession 0001140361-15-014517

INNOVATE Corp. · VATE

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

Reporting owners

10% Owner

Other

Period of report

Apr 2, 2015

Accepted (ET)

Apr 6, 2015 · 4:05 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^F1	Apr 2, 2015	S	9,218	$11.01	D	1,059,015	I	See Footnote
Common Stock^F1	Apr 2, 2015	S	15,000	$11.04	D	1,044,015	I	See Footnote
Common Stock^F1	Apr 2, 2015	S	25,000	$10.91	D	1,019,015	I	See Footnote

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Series A Convertible Participating Preferred Stock^F1,F2	—	holding	—	—	—	—	—	Common Stock	—	5,000	I
Series A-1 Convertible Participating Preferred Stock^F1,F3	—	holding	—	—	—	—	—	Common Stock	—	1,000	I

F1Shares reported herein are held for the account of private investment funds for which DG Capital Management, LLC serves as investment adviser. Mr. Gertzulin serves as the Managing Member of DG Capital Management, LLC. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that either of the Reporting Persons is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934 or for any other purpose.
F2The Series A Convertible Participating Preferred Stock was convertible as of the date of issuance and has no expiration date. As of the date of this Form 4, each share of the Issuer's Series A Convertible Participating Preferred Stock is convertible into shares of the Issuer's common stock at rate of $1,000 divided by $4.00, subject to adjustment upon the occurrence of certain events.
F3The Series A-1 Convertible Participating Preferred Stock was convertible as of the date of issuance and has no expiration date. As of the date of this Form 4, each share of the Issuer's Series A-1 Convertible Participating Preferred Stock is convertible into shares of the Issuer's common stock at rate of $1,000 divided by $4.25, subject to adjustment upon the occurrence of certain events.