HC2 Stockholders Approve Rights Offering Proposals
21 November 2020 - 12:45AM
HC2 Holdings, Inc. (“HC2” or the “Company”) (NYSE:HCHC), a
diversified holding company, announced today that, based on
preliminary results, its stockholders have voted to approve (i) an
amendment to the Company’s certificate of incorporation to increase
the number of authorized shares of common stock of the Company to
160,000,000 shares and (ii) the conversion of up to 35,000 shares
of Series B preferred stock of the Company in connection with the
Company’s current $65 million rights offering (the “Rights
Offering”). More than 94% of the votes cast supported both
proposals.
“We are very pleased that our stockholders
resoundingly supported our Board and our strategy of long-term
value creation for all HC2 stockholders,” stated Wayne Barr, Jr.,
HC2’s interim Chief Executive Officer. “On behalf of the entire HC2
Board and management team, we sincerely thank our stockholders for
their support throughout this process.”
About HC2
HC2 Holdings, Inc. is a publicly traded
(NYSE:HCHC) diversified holding company, which seeks opportunities
to acquire and grow businesses that can generate long-term
sustainable free cash flow and attractive returns in order to
maximize value for all stakeholders. HC2 has a diverse array of
operating subsidiaries across multiple reportable segments,
including Infrastructure, Clean Energy, Life Sciences, Spectrum,
Insurance and Other. HC2’s largest operating subsidiary is DBM
Global Inc., a family of companies providing fully integrated
structural and steel construction services. Founded in 1994, HC2 is
headquartered in New York, New York.
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,
including, among others, statements regarding the Rights Offering,
all of which involve risks, assumptions and uncertainties, many of
which are outside of the Company's control, and are subject to
change. The consummation of the Rights Offering is also subject to
certain conditions. Accordingly, no assurance can be given that the
Rights Offering will be consummated on its terms 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.
Contact:
Investor Relationsir@hc2.com (212) 235-2691
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