MG Capital Management Ltd. - Jul 1, 2021 Form 3 Insider Report for HC2 HOLDINGS, INC. (VATE)

Role: 10%+ Owner
Signature: MG Capital Management, Ltd.; By: /s/ Michael Gorzynski, Sole Director
Stock symbol: VATE
Transactions as of: Jul 1, 2021
Transactions value $: $0
Form type: 3
Date filed: 7/12/2021, 07:01 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	VATE	Common Stock, par value $0.001 per share						24.5K	Jul 1, 2021	By: Rio Royal LLC	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	MG Capital Management, Ltd. ("MG Capital Management"), Rio Royal LLC ("Rio Royal") 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 Rio Royal. MG Capital Management is the sole owner of Rio Royal. As a result of the foregoing relationship, MG Capital Management may be deemed to beneficially own the shares beneficially owned directly by Rio Royal. Each reporting person 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.

Content

MG Capital Management, Ltd. ("MG Capital Management"), Rio Royal LLC ("Rio Royal") 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 Rio Royal. MG Capital Management is the sole owner of Rio Royal. As a result of the foregoing relationship, MG Capital Management may be deemed to beneficially own the shares beneficially owned directly by Rio Royal. Each reporting person 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.