INNOVATE Corp. entered into a supplemental indenture requiring the mandatory cash redemption of its 9.500% Convertible Senior Secured Notes due 2027. Redemption is triggered on the 15th business day following the termination of the stock lock-up period related to the sale of DBMG Global Inc., which expires December 4, 2026 or upon effectiveness of a resale registration statement. The company will pay 100% of principal plus accrued interest and confirmed no offer to repurchase notes is needed. INNOVATE Corp. operates in the technology sector.
