Continental General Holdings LLC - Jul 1, 2021 Form 3 Insider Report for HC2 HOLDINGS, INC. (VATE)

Role
10%+ Owner
Signature
Continental General Holdings, LLC; By: /s/ Michael Gorzynski, Executive Chair
Stock symbol
VATE
Transactions as of
Jul 1, 2021
Transactions value $
$0
Form type
3
Date filed
7/12/2021, 07:08 PM

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding VATE Series A-3 Convertible Preferred Stock Jul 1, 2021 Common Stock, par value $0.001 per share 1.76M $3.52 By: Continental General Insurance Co F1, F2, F3
holding VATE Series A-4 Convertible Preferred Stock Jul 1, 2021 Common Stock, par value $0.001 per share 1.88M $5.33 By: Continental General Insurance Co F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Series A-3 Convertible Preferred Stock and the Series A-4 Convertible Preferred Stock are convertible at any time at the option of the holder.
F2 Continental General Holdings LLC ("CGH"), Continental Insurance Group, Ltd. ("CIG"), Continental General Insurance Company ("CGIC"), Continental LTC, Inc. ("CLTC") and certain other persons may be deemed to be members of a Section 13(d) group that beneficially owns more than 10% of the Issuer's outstanding Common Stock. The securities reported herein are directly held by CGIC. CLTC serves as the sole owner of CGIC. CIG serves as the sole owner of CLTC and the indirect parent operating company of CGIC. CGH serves as an investment holding company and the sole owner of CIG. By virtue of the foregoing relationships, each of CGH, CIG and CLTC may be deemed to beneficially own the shares beneficially owned directly by CGIC.
F3 The reporting persons disclaims beneficial ownership of the shares of Common Stock of the Issuer beneficially owned directly by the other members of the Section 13(d) group except to the extent of its pecuniary interest therein.