MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
−Removed: HC2 common stock trades on the NYSE under the ticker symbol "HCHC".
+Added: INNOVATE common stock trades on the NYSE under the ticker symbol "VATE".
Holders of Common Stock
−Removed: As of December 31, 2020, HC2 had approximately 4,735 holders of record of its common stock.
+Added: As of December 31, 2021, INNOVATE had approximately 49 holders of record of its common stock.
This number does not include stockholders for whom shares were held in "nominee" or "street" name.
−Removed: HC2 paid no dividends on its common stock in 2020 or 2019, and the HC2 Board of Directors has no current intention of paying any dividends on HC2 common stock in the near future.
−Removed: The payment of dividends, if any, in the future is within the discretion of the HC2 Board of Directors and will depend on our earnings, our capital requirements, financial condition, the ability to comply with the requirements of the law and agreements governing our and our subsidiaries indebtedness.
−Removed: The Secured Indenture contains covenants that, among other things, limit or restrict our ability to make certain restricted payments, including the payment of cash dividends with respect to HC2’s common stock.
+Added: INNOVATE paid no dividends on its common stock in 2021 or 2020, and the INNOVATE Board of Directors has no current intention of paying any dividends on INNOVATE common stock in the near future.
+Added: The payment of dividends, if any, in the future is within the discretion of the INNOVATE Board of Directors and will depend on our earnings, our capital requirements, financial condition, the ability to comply with the requirements of the law and agreements governing our and our subsidiaries indebtedness.
+Added: The Secured Indenture contains covenants that, among other things, limit or restrict our ability to make certain restricted payments, including the payment of cash dividends with respect to INNOVATE’s common stock.
The DBMG Facility contains similar covenants applicable to DBMG.
3 unchanged sentences
Issuer Purchases of Equity Securities
−Removed: HC2 did not repurchase any of its equity securities in the year ended December 31, 2020.
+Added: On May 29, 2021, pursuant to the Certificate of Designation, certain holders of the Series A and A-2 Preferred Stock caused the Company to redeem the Series A and A-2 Preferred Stock at the accrued value per share plus accrued but unpaid dividends (to the extent not included in the accrued value of Series A and A-2 Preferred Stock), of which $10.4 million was paid in cash to holders of the Series A and A-2 Preferred Stock.
+Added: Each share of Series A and A-2 Preferred Stock that was not so redeemed was automatically converted into shares of common stock at the conversion price then in effect, of which 50,410 shares of the Company's common stock were issued in lieu of cash to holders of the Series A Preferred Stock.
+Added: In connection with the Stock Purchase Agreement, CGI, formerly a wholly owned subsidiary of the Company, entered into a letter agreement with Continental General Holdings, LLC to not redeem at maturity or seek redemption of the $16.1 million Preferred Stock.
+Added: On July 1, 2021, CGI exchanged their Series A and Series A-2 Preferred Stock for new classes of Series A-3 and Series A-4 Preferred Stock with an extended maturity of July 1, 2026, with other terms substantially unchanged from the terms of the Series A and Series A-2 Preferred Stock.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.