NEW YORK, Nov. 20, 2020 (GLOBE NEWSWIRE) — HC2 Holdings, Inc. (“HC2” or the “Company”) (NYSE:HCHC), a diversified holding firm, introduced at present that, based mostly on preliminary outcomes, its stockholders have voted to approve (i) an modification to the Firm’s certificates of incorporation to extend the variety of licensed shares of widespread stock of the Firm to 160,000,000 shares and (ii) the conversion of as much as 35,000 shares of Sequence B most popular stock of the Firm in reference to the Firm’s present $65 million rights providing (the “Rights Offering”). Greater than 94% of the votes solid supported each proposals.
“We are very pleased that our stockholders resoundingly supported our Board and our strategy of long-term value creation for all HC2 stockholders,” acknowledged Wayne Barr, Jr., HC2’s interim Chief Govt Officer. “On behalf of the entire HC2 Board and management team, we sincerely thank our stockholders for their support throughout this process.”
HC2 Holdings, Inc. is a publicly traded (NYSE:HCHC) diversified holding firm, which seeks alternatives to accumulate and develop companies that may generate long-term sustainable free cash movement and enticing returns with a purpose to maximize value for all stakeholders. HC2 has a various array of working subsidiaries throughout a number of reportable segments, together with Infrastructure, Clear Power, Life Sciences, Spectrum, Insurance coverage and Different. HC2’s largest working subsidiary is DBM International Inc., a household of firms offering absolutely built-in structural and metal development providers. Based in 1994, HC2 is headquartered in New York, New York.
Cautionary Assertion Concerning Ahead-Trying Statements
Secure Harbor Assertion below the Personal Securities Litigation Reform Act of 1995: This press launch incorporates, and sure oral statements made by our representatives occasionally may include, forward-looking statements, together with, amongst others, statements relating to the Rights Providing, all of which contain dangers, assumptions and uncertainties, a lot of that are exterior of the Firm’s management, and are topic to vary. The consummation of the Rights Providing can be topic to sure circumstances. Accordingly, no assurance might be provided that the Rights Providing will probably be consummated on its phrases or in any respect. All forward-looking statements communicate solely as of the date made, and until legally required, HC2 undertakes no obligation to replace or revise publicly any forward-looking statements, whether or not because of new info, future occasions or in any other case.