INNOVATE Corp. — Director's Dealing 2020

May 21, 2020

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: HC2 HOLDINGS, INC. (HCHC)
CIK: 0001006837
Period of Report: 2020-05-13

Reporting Person: GLAZER AVRAM A (Director)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2578000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
7.5% Conv Senior Note due 2022 (conv into common stock)	$4.38		Common Stock (456621.0)		Direct

Footnotes

F1: On January 30, 2020, Reporting Person purchased $2,000,000 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 Reporting Person'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.