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VATE-News
VATE-Events
Innovate Trading Halted, Volatility Trading Pause
Innovate trading halted, volatility trading pause
INNOVATE Corp. Files $100M Mixed Securities Shelf
INNOVATE Corp. files $100M mixed securities shelf
IES Holdings to Acquire DBM Global for $650M
IES Holdings (IESC) announced that it has entered into a definitive agreement to acquire DBM Global from INNOVATE (VATE). The consideration for DBM Global, including minority interests, is approximately $650M, comprised of cash and shares of IES common stock. IES expects to fund the cash portion of the consideration through a combination of cash on hand and borrowings under an expanded credit facility being arranged by Wells Fargo. DBM Global generated revenue of approximately $1.3B for the twelve months ended March 31. Pursuant to the definitive agreement, IES will first acquire INNOVATE's approximately 91.2% interest in DBM Global. Immediately following that closing, IES will acquire the remaining minority interests in DBM Global via a short form merger. Total consideration payable is approximately $685M, comprised of approximately $545M in cash and approximately $140M in shares of IES common stock, with the cash consideration including a $35M payment to INNOVATE in respect of the estimated cost to INNOVATE to participate in a joint election under Section 338 of the Internal Revenue Code.
INNOVATE Announces DBM Global to Pay $5M Cash Dividend
INNOVATE Corp. announced that DBM Global, an operating subsidiary of INNOVATE, will pay a cash dividend of approximately $5M, or $1.30 per share, on February 24, 2026 to DBMG's stockholders of record at the close of business on February 9, 2026. As the largest stockholder of DBMG, INNOVATE expects to receive approximately $4.6M of the total $5M dividend payout. INNOVATE's individual stockholders are not eligible to receive the cash dividend.
INNOVATE Announces MediBeacon FDA Approval for Next-Gen TGFRTM System
INNOVATE announced that MediBeacon, in which INNOVATE owns a 44.7% equity interest, has received approval from the U.S. Food and Drug Administration, FDA, for the next generation MediBeacon TGFRTM System including the latest TGFRTM Reusable Sensor. The TGFR System enables kidney function assessment at the point of care by measuring the clearance rate of Lumitrace, a non-radioactive, non-iodinated fluorescent GFR agent. The TGFR Reusable Sensor placed on the skin measures the change in Lumitrace fluorescence intensity as a function of time.
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