INNOVATE Corp. — Director's Dealing 2014

Oct 1, 2014

SEC Form 3/A — Form 3/A

Issuer: HC2 Holdings, Inc. (HCHC)
CIK: 0001006837
Period of Report: 2014-10-01

Reporting Person: DG Capital Management, LLC (10% Owner)
Reporting Person: Gertzulin Dov (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $0.001 per share	1192335	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Series A Convertible Participating Preferred Stock	$		Common Stock ()		Indirect

Footnotes

F1: Shares reported herein are held for the account of private investment funds for which DG Capital Management, LLC serves as investment adviser. Mr. Gertzulin serves as the Managing Member of DG Capital Management, LLC. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein, and the filing of this Form 3 shall not be construed as an admission that either of the Reporting Persons is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934 or for any other purpose.

F2: The Series A Convertible Participating Preferred Stock was convertible as of the date of issuance and has no expiration date. As of the May 29, 2014, the Reporting Persons may be deemed to have beneficially owned 5,000 shares of the Issuer's Series A Convertible Participating Preferred Stock, each of which was convertible as of such date into shares of the Issuer's common stock at rate of $1,000 divided by $4.25, subject to adjustment upon the occurrence of certain events.