<SEC-DOCUMENT>0001104659-20-048960.txt : 20200421
<SEC-HEADER>0001104659-20-048960.hdr.sgml : 20200421
<ACCEPTANCE-DATETIME>20200421064717
ACCESSION NUMBER:		0001104659-20-048960
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200421
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200421
DATE AS OF CHANGE:		20200421

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HC2 HOLDINGS, INC.
		CENTRAL INDEX KEY:			0001006837
		STANDARD INDUSTRIAL CLASSIFICATION:	FABRICATED STRUCTURAL METAL PRODUCTS [3440]
		IRS NUMBER:				541708481
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35210
		FILM NUMBER:		20803945

	BUSINESS ADDRESS:	
		STREET 1:		450 PARK AVENUE
		STREET 2:		30TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-235-2690

	MAIL ADDRESS:	
		STREET 1:		450 PARK AVENUE
		STREET 2:		30TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HC2 Holdings, Inc.
		DATE OF NAME CHANGE:	20140415

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PTGi HOLDING, INC.
		DATE OF NAME CHANGE:	20131108

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PRIMUS TELECOMMUNICATIONS GROUP INC
		DATE OF NAME CHANGE:	19960814
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm2016467d1_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of The
Securities and Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (Date of earliest event
reported): April 21, 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>HC2 HOLDINGS, INC.</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; width: 27%; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="padding: 0; width: 46%; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>001-35210</B></FONT></TD>
    <TD STYLE="padding: 0; width: 27%; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>54-1708481</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of incorporation)</FONT></TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">(IRS Employer Identification No.)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding: 0; vertical-align: bottom; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; vertical-align: top; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>450 Park Avenue, 30th Floor</B></FONT></TD>
    <TD STYLE="padding: 0; vertical-align: bottom; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding: 0; vertical-align: bottom; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; vertical-align: top; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>New York, NY 10022</B></FONT></TD>
    <TD STYLE="padding: 0; vertical-align: bottom; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding: 0; vertical-align: bottom; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; vertical-align: top; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="padding: 0; vertical-align: bottom; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>(212) 235-2690</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt">(Registrant&rsquo;s telephone number, including area code)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Not Applicable</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding: 0; text-align: center; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>(Former name or former address, if changed since last report.)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <TD STYLE="padding: 0; vertical-align: bottom; width: 0.5in; text-indent: 0"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="padding: 0; vertical-align: top; text-indent: 0"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
<TR>
    <TD STYLE="padding: 0; vertical-align: bottom; text-indent: 0"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    <TD STYLE="padding: 0; vertical-align: top; text-indent: 0"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
<TR>
    <TD STYLE="padding: 0; vertical-align: bottom; text-indent: 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; vertical-align: top; text-indent: 0"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section&nbsp;12(b) of the
Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 37%; border-top: black 1pt solid; border-left: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-size: 10pt">Title of each class</FONT></TD>
    <TD STYLE="width: 26%; border-top: black 1pt solid; border-left: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-size: 10pt">Trading Symbol</FONT></TD>
    <TD STYLE="width: 37%; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-size: 10pt">Name of each exchange on which registered</FONT></TD></TR>
<TR>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-size: 10pt">Common Stock, par value $0.001 per share</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-size: 10pt">HCHC</FONT></TD>
    <TD STYLE="border: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-size: 10pt">New York Stock Exchange</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%; padding-top: 3.75pt; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Emerging growth company</FONT></TD>
    <TD STYLE="width: 4%; padding-top: 3.75pt; padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="width: 73%; padding-top: 3.75pt; padding-bottom: 1.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-top: 3.75pt; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8.01 Other Events.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On January 28, 2020, Lancer Capital LLC (&ldquo;Lancer Capital&rdquo;)
and Avram A. Glazer filed a Schedule 13G with the U.S. Securities and Exchange Commission disclosing that Lancer Capital was the
beneficial owner of 3,034,621 shares of HC2 Holdings, Inc.&rsquo;s (the &ldquo;Company&rdquo; or &ldquo;HC2&rdquo;) common stock,
par value $0.001 per share, approximately 6.5% of shares outstanding at the time, including 456,621 shares of Common Stock issuable
upon conversion of $2,000,000 principal amount of the Issuer&rsquo;s 7.5% Convertible Senior Notes due 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Following Lancer Capital&rsquo;s disclosure of a
significant interest in HC2, the Company engaged with Mr. Glazer on a number of topics, including the ongoing refreshment
efforts of HC2&rsquo;s board of directors (the &ldquo;Board&rdquo;) and Mr. Glazer&rsquo;s willingness to potentially join
the Board as an independent, stockholder representative. The Nominating and Governance Committee of the Board then followed
its director candidate evaluation process, in accordance with corporate governance best practices, and interviewed Mr.
Glazer. After this process, the Board decided to nominate Mr. Glazer to HC2&rsquo;s slate of director nominees at the
Company&rsquo;s 2020 annual meeting of stockholders (the &ldquo;Annual Meeting&rdquo;), and determined to offer the role of
Chairman to Mr. Glazer if he is elected by HC2&rsquo;s stockholders. Prior to those discussions, Mr. Glazer did not have any
personal relationship with any member of the Company&rsquo;s executive management team.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On April 21, 2020, the Company issued the press release attached
hereto as Exhibit 99.1, announcing, among other things, that the Board will include Mr. Glazer on HC2&rsquo;s slate of director
nominees at the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01 Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.5pt; width: 1in; border-top: black 1pt solid; border-left: black 1pt solid; text-indent: 0"><FONT STYLE="font-size: 10pt">Item No.</FONT></TD>
    <TD STYLE="padding: 2.5pt; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-indent: 0"><FONT STYLE="font-size: 10pt">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2.5pt; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-indent: 0"><A HREF="tm2016467d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="padding: 2.5pt; border: black 1pt solid; text-indent: 0"><A HREF="tm2016467d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Press release, dated April 21, 2020, titled &ldquo;HC2 Announces Avie Glazer to be Included on Slate of Director Nominees at 2020 Annual Meeting of Stockholders&rdquo;</FONT></A></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: April 21, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>HC2 Holdings, Inc.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">(Registrant)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; width: 62%; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 3%; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 35%; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">/s/ Michael J. Sena</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; border-top: black 1pt solid; text-indent: 0"><FONT STYLE="font-size: 10pt">Name:&nbsp;&nbsp;Michael J. Sena</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Title:&nbsp;&nbsp;Chief Financial Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2016467d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>HC2 Announces Avie Glazer to be Included
on Slate of Director Nominees at 2020 Annual Meeting of Stockholders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Glazer to be Appointed Chairman, if Elected
to the Board at the Annual Meeting </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NEW YORK, April 21, 2020 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc.
(&ldquo;HC2&rdquo; or the &ldquo;Company&rdquo;) (NYSE: HCHC), a diversified holding company, today announced that it will include
Avram A. &ldquo;Avie&rdquo; Glazer of Lancer Capital, LLC (&ldquo;Lancer Capital&rdquo;), a stockholder representative and owner
of approximately 5.3% of the Company&rsquo;s outstanding shares of common stock, on its slate of director nominees at the Company&rsquo;s
2020 Annual Meeting of Stockholders (the &ldquo;Annual Meeting&rdquo;). If elected at HC2&rsquo;s Annual Meeting, Mr. Glazer will
be appointed Chairman of the Board of Directors (the &ldquo;Board&rdquo;), as part of the Board&rsquo;s ongoing refreshment efforts
and commitment to incorporating stockholder feedback and to maximizing value for all stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;The Board is pleased to include Avie on our slate of
director nominees for the 2020 Annual Meeting. We are excited to have a new, independent and high quality nominee potentially join
and lead our Board as part of our ongoing refreshment efforts,&rdquo; said Warren H. Gfeller, interim Chairman of HC2&rsquo;s Board
of Directors. &ldquo;As the interim Chairman, I look forward to the opportunity to work with Avie, if elected, and believe his
addition will complement our Board&rsquo;s skills and experiences. The Board determined that Avie should assume the Independent
Chairman role if elected at the Annual Meeting, as his sterling track record of creating shareholder value is well established
in the market, and the alignment of his interests with HC2 stockholders ensures his complete independence and the ability to vigorously
oversee HC2&rsquo;s management and corporate strategy.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;I am pleased to include Avie Glazer on our slate of director
nominees, and look forward to welcoming him to the Board,&rdquo; said Philip A. Falcone, President and Chief Executive Officer
of HC2. &ldquo;Not only does Avie bring great business acumen, a track record of creating shareholder value, and expertise in key
areas such as operations, strategy implementation and talent acquisition, honed during his successful career as a public company
CEO, but he also brings decades of experience of public company board leadership, co-chairing the board of a complex, multi-billion
dollar company. I am confident that Avie&rsquo;s counsel will significantly contribute to HC2&rsquo;s efforts to continue improving
its capital structure while executing on its long-term strategic plan to deliver value to our fellow stockholders.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;As a significant HC2 stockholder, I believe in the transformation
of HC2 into a growth and innovation company. I look forward to joining them to further this mission as a director representing
the long-term interests of HC2 stockholders and am honored to be included on HC2&rsquo;s slate of director nominees for election
at its upcoming Annual Meeting,&rdquo; said Mr. Glazer, principal of Lancer Capital. &ldquo;I
also look forward to putting all distractions behind the Company and enabling the team to focus on building long-term value for
all stockholders. I support HC2&rsquo;s strategy to create long-term, sustainable value.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">On January 28, 2020, Lancer
Capital and Mr. Glazer filed a Schedule 13G with the U.S. Securities and Exchange Commission disclosing that Lancer Capital was
the beneficial owner of 3,034,621 shares of Common Stock, approximately 6.5% of shares outstanding at the time, including 456,621
shares of Common Stock issuable upon conversion of $2,000,000 principal amount of the Issuer&rsquo;s 7.5% Convertible Senior Notes
due 2022.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">Mr. Glazer is the principal
of Lancer Capital. Mr. Glazer currently serves as Executive Co-Chairman and Director of Manchester United Plc (NYSE: MANU), as
well as a director of Red Football Limited and Co-Chairman of Manchester United Limited. Mr. Glazer served as President and Chief
Executive Officer of Zapata Corporation, a U.S. public company between from March 1995 to July 2009 and Chairman of the board of
Zapata Corporation from March 2002 to July 2009. In addition to his professional experience, Mr. Glazer received a business degree
from Washington University in St. Louis in 1982. He received a law degree from American University, Washington College of Law in
1985.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About HC2 Holdings, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">HC2 Holdings, Inc. (NYSE: HCHC) is a publicly traded 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.
HC2&rsquo;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. Learn more about HC2 and its portfolio companies
at www.hc2.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Cautionary Statement Regarding Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This communication, and certain oral statements made by our representatives from time to time may contain,
forward-looking statements. Generally, forward-looking statements include information describing actions, events, results, strategies
and expectations and are generally identifiable by use of the words &ldquo;believes,&rdquo; &ldquo;expects,&rdquo; &ldquo;intends,&rdquo;
 &ldquo;anticipates,&rdquo; &ldquo;plans,&rdquo; &ldquo;seeks,&rdquo; &ldquo;estimates,&rdquo; &ldquo;projects,&rdquo; &ldquo;may,&rdquo;
 &ldquo;will,&rdquo; &ldquo;could,&rdquo; &ldquo;might&rdquo; or &ldquo;continues&rdquo; or similar expressions. The forward-looking
statements in this communication include, without limitation, any statements regarding our expectations regarding building stockholder
value, future cash flow, longer-term growth and invested assets, the timing or prospects of any refinancing of HC2&rsquo;s remaining
corporate debt, any statements regarding HC2&rsquo;s expectations regarding entering definitive agreements in respect of the potential
divestitures of Continental Insurance and/or DBM Global, reducing HC2&rsquo;s leverage and related interest expense at the holding
company level generally and with the net proceeds of such divestitures, reducing corporate overhead, growth opportunities at HC2&rsquo;s
Broadcasting and Energy businesses and unlocking value at HC2&rsquo;s Life Sciences segment. Such statements are based on the beliefs
and assumptions of HC2&rsquo;s management and the management of HC2&rsquo;s subsidiaries and portfolio companies. The Company believes
these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results, and
the Company&rsquo;s actual results could differ materially from those expressed or implied in the forward-looking statements due
to a variety of important factors, both positive and negative, that may be revised or supplemented in subsequent statements and
reports filed with the SEC, including in our reports on Forms 10-K, 10-Q and 8-K. Such important factors include, without limitation,
issues related to the restatement of our financial statements; the fact that we have historically identified material weaknesses
in our internal control over financial reporting, and any inability to remediate future material weaknesses; capital market conditions,
including the ability of HC2 and its subsidiaries to raise capital; the ability of HC2&rsquo;s subsidiaries and portfolio companies
to generate sufficient net income and cash flows to make upstream cash distributions; volatility in the trading price of HC2&rsquo;s
common stock; the ability of HC2 and its subsidiaries and portfolio companies to identify any suitable future acquisition or disposition
opportunities; our ability to realize efficiencies, cost savings, income and margin improvements, growth, economies of scale and
other anticipated benefits of strategic transactions; difficulties related to the integration of financial reporting of acquired
or target businesses; difficulties completing pending and future acquisitions and dispositions; activities by activist stockholders,
including a proxy contest, consent solicitation or any unsolicited takeover proposal; effects of litigation, indemnification claims
and other contingent liabilities; changes in regulations and tax laws; the risks and uncertainties associated with, and resulting
from, the COVID-19 pandemic; and risks that may affect the performance of the operating subsidiaries and portfolio companies of
the Company. Although HC2 believes its expectations and assumptions regarding its future operating performance are reasonable,
there can be no assurance that the expectations reflected herein will be achieved. These risks and other important factors discussed
under the caption &ldquo;Risk Factors&rdquo; in our most recent Annual Report on Form 10-K filed with the SEC, and our other reports
filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made
in this communication.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">You should not place undue reliance on forward-looking statements.
All forward-looking statements attributable to HC2 or persons acting on its behalf are expressly qualified in their entirety by
the foregoing cautionary statements. All such statements speak only as of the date hereof, 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Important Additional Information and Where to Find It</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">HC2 plans to file a proxy statement (the &ldquo;2020&nbsp;Proxy
Statement&rdquo;), together with a WHITE proxy card, with the SEC, in connection with the solicitation of proxies for the Annual
Meeting. STOCKHOLDERS ARE URGED TO READ THE 2020&nbsp;PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY
OTHER RELEVANT DOCUMENTS THAT HC2 FILES WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Stockholders will be able to obtain, free of charge, copies
of the 2020&nbsp;Proxy Statement, any amendments or supplements thereto and any other documents (including the WHITE proxy card)
when filed by HC2 with the SEC in connection with the Annual Meeting at the SEC&rsquo;s website (<U>http://www.sec.gov</U>), at
HC2&rsquo;s website (<U>http://ir.hc2.com</U>) or by contacting Okapi Partners LLC by phone at (877) 629-6355, by email at&nbsp;<U>info@okapipartners.com</U>&nbsp;or
by mail at 1212 Avenue of the Americas, 24th Floor, New York, New York 10036.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Participants in the Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">HC2, its directors and certain of its executive officers and
employees may be deemed to be participants in the solicitation of proxies and consent revocation cards from stockholders in connection
with the Annual Meeting. Additional information regarding the identity of these potential participants, none of whom (other than
Philip A. Falcone, HC2&rsquo;s President and Chief Executive Officer) owns in excess of one percent (1%) of HC2&rsquo;s shares,
and their direct or indirect interests, by security holdings or otherwise, will be set forth in the 2020&nbsp;Proxy Statement and
other materials to be filed with the SEC in connection with the Annual Meeting. Information relating to the foregoing can also
be found in HC2&rsquo;s&nbsp;definitive proxy&nbsp;statement for its 2019 annual meeting of stockholders (the &ldquo;2019&nbsp;Proxy
Statement&rdquo;), filed with the SEC on April 29, 2019. To the extent holdings of HC2&rsquo;s securities by such potential participants
(or the identity of such participants) have changed since the information printed in the 2019&nbsp;Proxy Statement, such information
has been or will be reflected on Statements of Ownership and Change in Ownership on&nbsp;Forms 3&nbsp;and 4 filed with the SEC.</P>

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