INNOVATE Corp. — Director's Dealing 2014

Sep 16, 2014

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: NOVATEL WIRELESS INC (NVTL)
CIK: 0001022652
Period of Report: 2014-09-08

Reporting Person: HC2 Holdings, Inc. (10% Owner)
Reporting Person: FALCONE PHILIP (10% Owner)
Reporting Person: HC2 Holdings 2, Inc. (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	7363334	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Warrants to Purchase Common Stock (right to buy)	$2.26	2019-09-08	Common Stock (4117647)		Indirect
Series C Convertible Preferred Stock	$1.75		Common Stock (871960)		Indirect

Footnotes

F1: The securities of the Issuer reported herein are held directly by HC2 Holdings 2, Inc. ("HC2 Holdings"). HC2 Holdings is a wholly owned subsidiary of HC2 Holdings, Inc. ("HC2"). Mr. Philip A. Falcone is the President, Chief Executive Officer and Chairman of the Board of Directors of HC2 and the Chief Executive Officer and Chairman of the Board of Directors of Harbinger Group Inc., which beneficially owns 24.7% of the outstanding common stock of HC2. Mr. Falcone beneficially owns 26.4 % of the outstanding common stock of HC2. Neither HC2 nor Mr. Falcone owns directly any securities of the Issuer. However, as a result of HC2's ownership of all of HC2 Holdings' equity and

F2: (continued from Footnote 1) Mr. Falcone's position with HC2, HC2 and Mr. Falcone may be deemed to beneficially own the securities of the Issuer directly and a pecuniary interest in such shares owned by HC2 Holdings. Each of HC2 and Mr. Falcone disclaim beneficial ownership of the shares held directly by HC2 Holdings except to the extent he or it has actual voting or investment control of such shares.

F3: The Series C Convertible Preferred Stock shall automatically convert into 871,960 shares of Common Stock upon approval of such conversion by the stockholders of the Issuer, and has no expiration date.