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INNOVATE Corp. to Report Second Quarter 2025 Results on August 5th
Globenewswire· 2025-07-17 20:05
Core Viewpoint - INNOVATE Corp. will release its financial results for Q2 2025 on August 5, 2025, after market close, followed by an earnings conference call at 4:30 p.m. ET to discuss the results, operations, and strategy [1]. Group 1: Financial Results Announcement - The financial results for the second quarter of 2025 will be announced on August 5, 2025, after market close [1]. - An earnings conference call will take place on the same day at 4:30 p.m. ET to review the results and discuss operations and strategy [1]. Group 2: Conference Call Details - The conference call will be accessible via domestic dial-in at 1-877-704-4453 and international dial-in at 1-201-389-0920 [3]. - A replay of the conference call will be available approximately three hours after the call and can be accessed until August 19, 2025 [3]. Group 3: Company Overview - INNOVATE Corp. operates in three key areas of the new economy: Infrastructure, Life Sciences, and Spectrum [4]. - The company is committed to stakeholder capitalism and employs approximately 3,100 people across its subsidiaries [4].
INNOVATE Launches Indebtedness Refinancing Transactions
Globenewswire· 2025-07-17 12:42
Core Viewpoint - INNOVATE Corp. is initiating a series of refinancing transactions aimed at extending the maturities of its debt obligations, which includes exchanges of convertible and senior secured notes, as well as amendments to existing credit agreements [1][2][3]. Debt Refinancing Transactions - The company plans to exchange approximately $48.7 million of its existing 7.5% Convertible Senior Notes due 2026 for about $51.1 million of newly issued 9.5% Convertible Senior Notes due 2027 [2]. - An exchange offer has been launched for $330 million of 8.5% Senior Secured Notes due 2026, offering new 10.5% Senior Secured Notes due 2027 [3][4]. - The refinancing transactions are contingent upon the participation of at least 98% of the outstanding principal amount of the Existing Senior Secured Notes [7]. Agreements in Principle - The company has reached agreements in principle to extend the maturity of its 2020 Revolving Credit Agreement to September 15, 2026 [13]. - An agreement has been made to extend the maturity of the CGIC note to April 2027, with an interest rate of 16% [14]. - The maturity of Spectrum Notes is set to be extended to September 30, 2026, contingent on meeting certain strategic milestones [15]. - The maturity of R2 Technologies' note is proposed to be extended to August 1, 2026, with an interest rate of 12% [16]. Participation and Deadlines - The early participation deadline for the exchange offer is set for July 30, 2025, with the final settlement expected on August 15, 2025 [8]. - Supporting Noteholders, representing approximately 75.3% of the Existing Senior Secured Notes, have agreed to participate in the exchange offer [6].