INNOVATE Corp. announces 1-for-10 reverse stock split

INNOVATE announced that its Board of Directors has approved a 1-for-10 reverse stock split of the Company’s common stock, par value $0.001 per share. The reverse stock split will become effective at 5:00 p.m. Eastern Time on August 2, 2024, after close of trading on the New York Stock Exchange. The Company’s Common Stock is expected to commence trading on a split-adjusted basis when the markets open on August 5, 2024, under the existing trading symbol “VATE.” The primary goal of the reverse stock split is to increase the per share market price of the Company’s Common Stock to meet the minimum per share bid price requirement for continued listing on the NYSE. The reverse stock split was approved by the Company’s stockholders at its annual meeting of stockholders held on June 18, 2024.