INNOVATE Corp. — Director's Dealing 2015

Mar 30, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NOVATEL WIRELESS INC (MIFI)
CIK: 0001022652
Period of Report: 2015-03-26

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-03-26	Common Stock	X	3824600	$2.26	Acquired	11437799	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-03-26	Warrants to Purchase Common Stock (right to buy)	$2.26	X	3824600	Disposed	2019-09-08	Common Stock (3824600)	Direct
2015-03-26	Warrants to Purchase Common Stock (right to buy)	$5.50	J	1593583	Acquired	2020-03-26	Common Stock (1593583)	Direct

Footnotes

F1: The securities of Novatel Wireless Inc. (the "Issuer") reported herein are held directly by HC2 Holdings 2, Inc. ("HC2 Holdings"). HC2 Holdings is a wholly owned subdiary of HC2 Holdings, Inc. ("HC2"). HC2 disclaims any beneficial ownership of the shares held directly by HC2 Holdings except to the extent it has actual voting or investment control of such shares.

F2: As an inducement for HC2 Holdings to exercise the warrants issued on September 8, 2014, the Issuer issued HC2 Holdings an additional warant to purchase 1,593,583 shares of the Issuer's common stock, at a strike price of $5.50 (the "New Warrants"). HC2 Holdings paid no seperate consideration to the Issuer for the New Warrants.