Subsequent Events

9 Months Ended

Sep. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

19. Subsequent Events

On October 21, 2021, HC2 Broadcasting entered into the Fifth Omnibus Amendment to Secured Notes, Consent and Second Amendment to Asset Sale Under Secured Notes and Intercreditor Agreement (the “Amendment”), which, among other things, extended $52.2 million of its Senior Secured Notes, due October 21, 2021, through November 30, 2022. In addition, HC2 Broadcasting completed the last of a series of repurchases of all the outstanding secured and convertible promissory notes, inclusive of accrued interest, of DTV using a combination of cash on hand and proceeds from the sales on non-core assets.

On November 1, 2021, the Company entered into a lease agreement with RPP Palm Beach Property LP for 20,950 square feet of special purpose space. The lease is contingent on obtaining necessary permits to refurbish the space and will commence upon completion of such renovations. The term of the lease is for 10 years and is expected to begin in November of 2023 or later. Annual lease payments are $2.1 million, subject to a 3% annual escalation.