HC2 Holdings, Inc. Announces New Name, INNOVATE Corp.
Name Change to
Focused on Infrastructure, Life Sciences and Spectrum
“The name INNOVATE perfectly describes our corporate ethos – INNOVATE is who we are and INNOVATE is what we do,” said
“Today’s announcement sets us on a path dedicated to stakeholder capitalism and sustainable value generation,” said
DBM Global, INNOVATE’s infrastructure segment, is one of the leading steel fabrication and erection companies in the United States. DBM Globalis a highly efficient and collaborative portfolio of companies providing better designs, efficient construction and superior asset management solutions. In May 2021, DBM Globalacquired Banker Steel, expanding DBM’s footprint nationwide and further strengthening its position as a preeminent infrastructure company.
- Pansend Life Sciences is invested in
R2 Technologies, which recently launched its first product using its revolutionary CryoAesthetic skin lightening and brightening technology in the $22 billionaesthetic dermatology market. Pansend is also invested in MediBeacon, which is developing the first real-time monitoring solution for kidney function. MediBeacon’s proprietary technology has received breakthrough device designation from the Food and Drug Administration(FDA). HC2 Broadcasting Holdings, Inc., INNOVATE’s spectrum segment, is the largest over-the-air (OTA) distribution platform in the U.S. operating approximately 230 broadcast stations in over 90 U.S. TV markets and Puerto Rico, including 34 of the top 35 markets. With a focus on delivering a highly flexible and scalable platform to high-quality content providers, HC2 Broadcastingis uniquely positioned to capitalize on the growing base of OTA households in the U.S.as the cable cord-cutting trend continues and home entertainment evolves.
As part of the name change, the Company will roll out a new corporate brand identity and website in the third quarter of 2021, at which point the Company’s shares will trade on the
Cautionary Statement Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains, and certain oral statements made by our representatives from time to time may contain, forward-looking statements regarding the Indication of Interest and the transactions contemplated thereby, all of which involve risks, assumptions and uncertainties, many of which are outside of the Company’s control, and are subject to change. Accordingly, no assurance can be given that any proposal or binding offer will be made or accepted, or that any transaction will be consummated on the terms contained in the Indication of Interest, or at all. All forward-looking statements speak only as of the date made, and unless legally required, HC2 undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: HC2 Holdings, Inc.