INNOVATE Corp. — Director's Dealing 2021

Jul 13, 2021

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: HC2 HOLDINGS, INC. (HCHC)
CIK: 0001006837
Period of Report: 2021-07-01

Reporting Person: Continental General Holdings LLC (10% Owner)
Reporting Person: Continental Insurance Group, Ltd. (10% Owner)
Reporting Person: Continental LTC, Inc. (10% Owner)
Reporting Person: CONTINENTAL GENERAL INSURANCE CO (10% Owner)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Series A-3 Convertible Preferred Stock	$3.5187	2026-07-01	Common Stock, par value $0.001 per share (1764357)		Indirect
Series A-4 Convertible Preferred Stock	$5.3318	2026-07-01	Common Stock, par value $0.001 per share (1875539)		Indirect

Footnotes

F1: The Series A-3 Convertible Preferred Stock and the Series A-4 Convertible Preferred Stock are convertible at any time at the option of the holder.

F2: Continental General Holdings LLC ("CGH"), Continental Insurance Group, Ltd. ("CIG"), Continental General Insurance Company ("CGIC"), Continental LTC, Inc. ("CLTC") and certain other persons may be deemed to be members of a Section 13(d) group that beneficially owns more than 10% of the Issuer's outstanding Common Stock. The securities reported herein are directly held by CGIC. CLTC serves as the sole owner of CGIC. CIG serves as the sole owner of CLTC and the indirect parent operating company of CGIC. CGH serves as an investment holding company and the sole owner of CIG. By virtue of the foregoing relationships, each of CGH, CIG and CLTC may be deemed to beneficially own the shares beneficially owned directly by CGIC.

F3: The reporting persons disclaims beneficial ownership of the shares of Common Stock of the Issuer beneficially owned directly by the other members of the Section 13(d) group except to the extent of its pecuniary interest therein.