HC2 Holdings Adopts Tax Benefits Preservation Plan to Protect Tax Attributes and Stockholder Value NEW YORK, Aug. 30, 2021 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2” or “the Company”) (NYSE: HCHC) today announced that its Board of Directors (“Board”) has adopted a tax benefits preservation plan designed to protect the availability of HC2’s net operating loss carryforwards ("NOLs") and other tax attributes under the Internal Revenue Code ("Tax Benefits Preservation Plan"). As of December 31, 2020, HC2 had approximately $170.3 million of federal NOLs and $175.3 million of Section 163j i...
HC2 Holdings Announces Name Change to INNOVATE Expected to be Effective September 20, 2021 NEW YORK, Aug. 19, 2021 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (NYSE: HCHC) today announced that its previously announced name change to INNOVATE Corp. is expected to take effect on Monday, September 20, 2021, along with the launch of a new corporate brand identity and website. The Company is expected to commence trading on the New York Stock Exchange under the trading symbol VATE at market open on September 20, 2021. Until that time, the Company will continue to trade on the New York Stock Exchange...
HC2 Holdings Portfolio Company DBM Global Inc. to Pay Cash Dividend NEW YORK, Aug. 09, 2021 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2” or “the Company”) (NYSE: HCHC), announced today that its infrastructure business DBM Global Inc. (“DBM”) (OTC: DBMG), a family of companies providing fully integrated steel construction services, will pay a cash dividend of approximately $5 million, or $1.297 per share, on August 31, 2021 to DBM stockholders of record at the close of business on August 16, 2021. As the largest stockholder of DBM Global Inc., HC2 expects to receive approximately $4.5 mi...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
$1.6 billion DBM Backlog Highlights HC2 Holdings Second Quarter 2021 Results - Infrastructure: DBM Global's backlog increased to $1.6 billion following Banker Steel Acquisition -- Life Sciences: HC2 Increased its Stake in R2 Technologies -- Name Change to INNOVATE Corp Reflects Platform of Innovative Infrastructure, Life Sciences and Spectrum Businesses - NEW YORK, Aug. 06, 2021 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2” or the “Company”) (NYSE: HCHC), a diversified holding company, announced today its consolidated results for the second quarter ended June 30, 2021. Financial Summary...
HC2 Holdings to Report Second Quarter 2021 Results on August 6 NEW YORK, July 26, 2021 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2” or “the Company”) (NYSE: HCHC), announced today that it will release its financial results for the second quarter 2021 on Friday, August 6, 2021 before the market opens. The Company will host an earnings conference call reviewing these results, its operations and strategy on the same day, beginning at 8:30 a.m. ET. Dial-in instructions for the conference call and the replay are outlined below. This conference call will also be broadcast live over the intern...
HC2 Holdings Provides $15 Million Series C Investment to Portfolio Company R2 Technologies Investment to Expand Corporate Footprint and Accelerate Glacial Rx™ Commercialization NEW YORK, July 21, 2021 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2” or “the Company”) (NYSE: HCHC) today announced that it has provided an additional $15 million in Series C funding to R2 Technologies Inc. ("R2") at a post-money valuation of $150 million. The investment was made through HC2’s life sciences subsidiary Pansend Life Sciences (“Pansend”), a founding investor in R2. The funds will be used to expand...
HC2 Holdings, Inc. Announces New Name, INNOVATE Corp. Name Change to INNOVATE Corp. Expected in Q3 2021 Focused on Infrastructure, Life Sciences and Spectrum NEW YORK, July 09, 2021 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (NYSE: HCHC) today announced that it will change its name to INNOVATE Corp. The name change is expected to become effective by the end of the third quarter of 2021. “The name INNOVATE perfectly describes our corporate ethos – INNOVATE is who we are and INNOVATE is what we do,” said Avie Glazer, Chairman of HC2. “INNOVATE is best-in-class assets in three key areas of th...
HC2 Holdings Completes Sale of Continental Insurance Business for $90 Million Transaction Further Refines HC2’s Strategic Focus and Bolsters Liquidity Position NEW YORK, July 01, 2021 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2” or “the Company”) (NYSE: HCHC) announced today that it has completed the previously announced sale of its insurance segment, comprised of Continental Insurance Group Ltd. and its wholly-owned subsidiaries, Continental General Insurance Company and Continental LTC Inc. (collectively, “Continental”), to Continental General Holdings LLC, an entity controlled by Mi...
HC2 Holdings Portfolio Company DBM Global Completes Acquisition of Banker Steel Family of Companies and Enters into New Credit Agreement NEW YORK, May 27, 2021 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2” or “the Company”) (NYSE: HCHC) announced today that its infrastructure business DBM Global (“DBM”) has completed its previously announced acquisition of a 100% interest in Banker Steel Holdco LLC (“Banker Steel”) from Atlas Holdings LLC (“Atlas”). DBM also announced that it has entered into a new credit agreement that provides for a $110 million term loan and a $110 million revolving cr...
HC2 Holdings Reports First Quarter 2021 Results - Portfolio Coalesces Around Infrastructure, Life Sciences and Spectrum -- Pending Banker Steel Acquisition Adds to DBM Global's Infrastructure Opportunity -- Pending Insurance Disposition Sharpens Focus and Adds $65 Million to Balance Sheet - - Successful Debt Refinancing in February Significantly Enhances Capital Structure - NEW YORK, May 07, 2021 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2” or the “Company”) (NYSE: HCHC), a diversified holding company, announced today its consolidated results for the first quarter ended March 31, 2021. ...
HC2 Holdings to Report First Quarter 2021 Results on May 7 NEW YORK, April 29, 2021 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2” or “the Company”) (NYSE: HCHC), announced today that it will release its financial results for the first quarter 2021 on Friday, May 7, 2021 before the market opens. The Company will host an earnings conference call reviewing these results, its operations and strategy on the same day, beginning at 8:30 a.m. ET. Dial-in instructions for the conference call and the replay are outlined below. This conference call will also be broadcast live over the internet and ...
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