INNOVATE Corp. — Director's Dealing 2018

Nov 23, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HC2 HOLDINGS, INC. (HCHC)
CIK: 0001006837
Period of Report: 2018-11-08

Reporting Person: BARR WAYNE JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-11-08	Common Stock	L	400	$5.22	Acquired	56580	Direct
2018-11-09	Common Stock	L	400	$4.95	Acquired	56980	Direct
2018-11-14	Common Stock	L	200	$3.4923	Acquired	57180	Direct
2018-11-21	Common Stock	P	1000	$3.05	Acquired	58180	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-11-20	7.5% Conv Senior Note due 2022 (conv into common stock)	$4.38	P		Acquired		Common Stock (570776.0)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	200000	Indirect

Footnotes

F1: Held by CCUR Holdings, Inc. ("CCUR"), of which the Reporting Person is Chairman, President and CEO. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. This filing shall not be deemed an admission that the Reporting Person is, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, the beneficial owner of any securities covered by this filing.

F2: On Nov 20, 2018, CCUR purchased $2,500,000 in aggregate principal amount of the Issuer's 7.5% convertible senior notes due 2022 (the "Convertible Notes"). The Convertible Notes bear interest at a rate of 7.5% per annum, payable semi-annually in arrears on June 1 and December 1 of each year, beginning on June 1, 2019, unless converted, redeemed or repurchased in accordance with their terms prior to June 1, 2022 (the "maturity date"). The Convertible Notes are convertible at CCUR's option into shares of the Issuer's Common Stock based on an initial conversion rate of 228.3105 shares of Common Stock per $1,000 principal amount of Convertible Notes (equivalent to an initial conversion price of $4.38 per share of the Issuer's Common Stock), subject to certain adjustments, at any time prior to the close of business on the business day immediately preceding the maturity date, in principal amounts of $1,000 or an integral multiple of $1,000 in excess thereof.