Financing ·
On July 31, 2026, Innovate Corp. entered into supplemental indentures permitting PIK interest on its 10.500% Senior…
VATEINNOVATE Corp.
On July 31, 2026, Innovate Corp. entered into supplemental indentures permitting PIK interest on its 10.500% Senior Secured Notes and 9.5% Convertible Senior Secured Notes due 2027 for the period ending July 31, 2026. Consenting holders received a 1.5% consent fee paid in additional notes. Consequently, the principal of the 10.500% notes increased to $400.9 million with only $3.1 million cash interest due on August 1, down from $19.9 million, while the convertible notes' principal rose to $58.9 million with $0.5 million cash interest instead of $2.7 million. Lancer Capital LLC consented and received $0.1 million in additional notes. Additionally, Innovate Corp.'s subsidiary R2 Technologies extended its promissory note maturity with Lancer Capital from August 1, 2026 to December 31, 2026. Innovate Corp. operates in the technology sector, providing software and digital solutions.