4//SEC Filing
GLAZER AVRAM A 4
Accession 0001006837-25-000107
CIK 0001006837other
Filed
Aug 5, 8:00 PM ET
Accepted
Aug 6, 4:14 PM ET
Size
13.1 KB
Accession
0001006837-25-000107
Insider Transaction Report
Form 4
INNOVATE Corp.VATE
GLAZER AVRAM A
Director10% Owner
Transactions
- Purchase
9.5% Convertible Senior Notes due 2027
2025-08-04(indirect: Lancer Capital)Exercise: $42.31From: 2025-08-04Exp: 2027-03-01→ Common Stock (51,873 underlying) - Sale
7.5% Convertible Senior Notes due 2026
2025-08-04(indirect: Lancer Capital)Exercise: $42.31From: 0021-02-01Exp: 2026-08-01→ Common Stock (47,265 underlying)
Glazer Jill H.
10% Owner
Transactions
- Purchase
9.5% Convertible Senior Notes due 2027
2025-08-04(indirect: Lancer Capital)Exercise: $42.31From: 2025-08-04Exp: 2027-03-01→ Common Stock (51,873 underlying) - Sale
7.5% Convertible Senior Notes due 2026
2025-08-04(indirect: Lancer Capital)Exercise: $42.31From: 0021-02-01Exp: 2026-08-01→ Common Stock (47,265 underlying)
Transactions
- Sale
7.5% Convertible Senior Notes due 2026
2025-08-04(indirect: Lancer Capital)Exercise: $42.31From: 0021-02-01Exp: 2026-08-01→ Common Stock (47,265 underlying) - Purchase
9.5% Convertible Senior Notes due 2027
2025-08-04(indirect: Lancer Capital)Exercise: $42.31From: 2025-08-04Exp: 2027-03-01→ Common Stock (51,873 underlying)
Footnotes (4)
- [F1]Convertible Notes are convertible at the option of Lancer Capital into shares of the Company's common stock at the conversion rate of $42.3143.
- [F2]On August 4, 2025, pursuant to that Exchange Agreement dated as of July 17, 2025 by and be-tween Lancer Capital LLC ("Lancer Capital") and the Company, Lancer Capital exchanged $2.0 million in principal amount of the Company's 7.5% Convertible Senior Notes due 2026 (the "Old Convertible Notes"), together with all interest accrued and unpaid thereon, for $2.195 million in principal amount of the Company's 9.5% Convertible Senior Notes due 2027 (the "New Convertible Notes"). The Old Convertible Notes were convertible at the option of Lancer Capital into shares of the Company's common stock at any time until their maturity date (August 1, 2026) at the conversion rate of $42.3143, subject to anti-dilution adjustment. The New Convertible Notes are convertible at the option of Lancer Capital into shares of the Company's common stock at any time until their maturity date (March 1, 2027) at the conversion rate of $42.3143, subject to ant-dilution adjustment.
- [F3]The reported shares are directly beneficially owned by Lancer Capital. The Avram Glazer Irrevocable Exempt Trust (the "Trust") is the sole member of Lancer Capital, and in such capacity may be deemed to beneficially own the shares beneficially owned by Lancer Capital. Mr. Avram A. Glazer is the trustee of the Trust, and in such capacity may be deemed to beneficially own the shares beneficially owned by the Trust.
- [F4]Mrs. Jill H. Glazer is the spouse of Mr. Glazer and in such capacity may be deemed to beneficially own the shares beneficially owned by him.
Documents
Issuer
INNOVATE Corp.
CIK 0001006837
Entity typeother
IncorporatedNY
Related Parties
1- filerCIK 0001077812
Filing Metadata
- Form type
- 4
- Filed
- Aug 5, 8:00 PM ET
- Accepted
- Aug 6, 4:14 PM ET
- Size
- 13.1 KB