HC2 Holdings’ $65 Million Rights Offering

Skadden advised HC2 Holdings, Inc. in the transaction.

HC2 Holdings’ Board of Directors has approved a plan to proceed with steps to launch a $65 million rights offering for its common stock. HC2 has filed a registration statement on Form S-3 with the Securities and Exchange Commission (“SEC”). Subject to final approval of the rights offering by the Board, the Company expects to launch the rights offering after the Registration Statement is declared effective by the SEC.

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 Construction, Energy, Telecommunications, Life Sciences, Broadcasting, Insurance and Other.

The Skadden team included Capital Markets partner Gregory Fernicola (Picture) and M&A and Financial Institutions partnerTodd Freed, and Capital Markets counsel Michael Saliba. All attorneys are located in New York.

Involved fees earner: Gregory Fernicola – Skadden Arps Slate Meager & Flom; Todd Freed – Skadden Arps Slate Meager & Flom; Michael Saliba – Skadden Arps Slate Meager & Flom;

Law Firms: Skadden Arps Slate Meager & Flom;

Clients: HC2 Holdings, Inc.;

Author: Ambrogio Visconti