On November 13, 2026, Innovate Corp. filed a prospectus supplement to its effective shelf registration statement (File No. 333-298167) to increase the amount of common stock it may sell under its existing at-the-market sales program.
The filing indicates that the aggregate offering amount has been increased from $31,000,000 to $50,000,000. The shares are to be sold pursuant to an Open Market Sale Agreement SM with Jefferies LLC. The company also filed a legal opinion from Cleary Gottlieb Steen & Hamilton LLP regarding the validity of the shares.
In related financial news, the company has completed the disposition of DBM Global Inc. and its subsidiaries. The transaction closed on October 5, 2026. Under the terms of the Transaction Agreement, the company sold approximately 91.2% of the outstanding shares of DBMG common stock to IES Holdings, Inc. The consideration consisted of 430,974 shares of IES common stock and approximately $378 million in cash.
Additionally, the company completed the disposition of a controlling interest in HC2 Broadcasting Holdings Inc. on September 1, 2026. Following the merger, the company’s interest in Broadcasting decreased from 100% to a 25% equity method interest. The company recorded a gain on the disposal of the controlling interest in the subsidiary of $32.9 million for the three and nine months ended September 30, 2026.
