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<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">UNITED STATES</div>

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<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">SECURITIES AND EXCHANGE COMMISSION</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Washington, D.C. 20549</div>

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<div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">FORM 8-K</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">CURRENT REPORT</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Pursuant to Section 13 or 15(d) of The Securities and Exchange Act of 1934</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Date of Report (Date of earliest event reported):&#160; October 11, 2017</div>

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<div style="FONT-SIZE: 24pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">HC2 HOLDINGS, INC.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">(State or other jurisdiction of incorporation)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">450 Park Avenue, 30th Floor</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">(Address of principal executive offices)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">(212) 235-2690</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">(Registrant&#8217;s telephone number, including area code)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Not Applicable</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">(Former name or former address, if changed since last report.)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">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:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>

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<div style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Emerging growth company</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#160;&#9744;</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">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.&#160; &#9744;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Entry into a Material Definitive Agreement</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On October 11, 2017, Global Marine Systems Limited (&#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>GMSL</u></font>&#8221;), an indirect subsidiary of HC2 Holdings, Inc. (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Company</u></font>&#8221;), entered into a Business Purchase Agreement (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>BPA</u></font>&#8221;) and a Warranty and Indemnity Agreement (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>W&amp;I Agreement</u></font>&#8221;), in each case by and among Fugro N.V., a public limited liability company incorporated in the Netherlands (&#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Fugro</u></font>&#8221;), GMSL and Global Marine Holdings LLC, an indirect subsidiary of the Company and an indirect parent company of GMSL (&#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>GMHL</u></font>&#8221;).&#160; Pursuant to the BPA, GMSL agreed to acquire the trenching and cable laying business of Fugro (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Acquisition</u></font>&#8221;), consisting of, among other things, 23 employees, one vessel, two trenching systems and working capital.&#160; The obligation of each party to consummate the Acquisition is subject to certain conditions, including, among others, Fugro furnishing certain audited financial statements of the business to be acquired, customary conditions relating to the accuracy of the other party&#8217;s representations and warranties (subject to certain materiality exceptions) and the other party having performed in all material respects its obligations under the BPA.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As consideration for the Acquisition, (a) GMSL agreed to pay $7,500,000 (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Cash Consideration</u></font>&#8221;) to Fugro for a Q1400 Trenching System (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Trencher</u></font>&#8221;), and (b) GMHL agreed to issue to a subsidiary of Fugro (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Fugro Member</u></font>&#8221;) membership units representing a 23.6% equity interest in GMHL (excluding management incentive units), valued at $65,000,000.&#160; The limited liability company agreement of GMHL will be amended and restated upon consummation of the Acquisition to reflect such issuance and to provide the Fugro Member with certain rights, including the right to designate two out of the up to seven members of its board of directors, the right to approve certain actions outside the ordinary course of business, certain &#8220;tag-along&#8221; rights to participate in sales of membership units by other members and, after five years and subject to the Fugro Member first offering its membership units to the other members at a price based upon independent valuations, cause GMHL to be put up for sale in a process led by an investment banking firm.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In order to finance the Cash Consideration, GMSL agreed to incur a loan of $7,500,000 from a subsidiary of Fugro, which bears interest, payable quarterly, at 4% per annum through December 31, 2017, and at 10% per annum thereafter, and matures 365 days following the Acquisition.&#160; The Trencher will serve as collateral security for the repayment of the loan pursuant to the terms of a lien agreement.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Pursuant to the W&amp;I Agreement, each party has certain rights to damages or indemnification in connection with breaches of certain representations, warranties and covenants given by the other party.&#160; The W&amp;I Agreement includes, among other things, thresholds establishing the minimum amount of losses that must be incurred before damages may be claimed and caps with respect the maximum amount of each party&#8217;s payment obligations.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In order to provide for transitional and general services between the parties after the Acquisition, Fugro and GMSL agreed to enter into a Transitional Services and Framework Services Agreement upon consummation of the Acquisition pursuant to which, among other things, (a) GMSL will use Fugro as a preferred provider for a range of survey, marine site investigation, asset integrity, ROV (operation) and other services required by GMSL in relation to the Acquisition, (b) Fugro and GMSL will cooperate on future work prospects in the &#8220;non-trenching&#8221;, &#8220;non-cable laying&#8221; market in the event that Fugro requires additional vessel capacity, and (c) Fugro will provide certain transitional services to GMSL for a period of time following the Acquisition.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The foregoing information is a summary of the agreements described above (collectively, the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Transaction Agreements</u></font>&#8221;) and, as such, is not complete, and is qualified in its entirety by reference to the full text of the Transaction Agreements, copies of which are filed as exhibits to this Current Report on Form 8-K. Investors should review the Transaction Agreements for a complete understanding of the terms and conditions associated with this transaction.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The Transaction Agreements have been included to provide investors with information regarding their terms. They are not intended to provide any other factual information about the parties thereto or their respective subsidiaries or affiliates. The representations, warranties, and covenants contained in each Transaction Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties thereto, may be subject to limitations agreed upon by the contracting parties, including being qualified by confidential disclosures made for the purposes of allocating contractual risk between the parties thereto instead of establishing these matters as facts, and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors are not third-party beneficiaries under any Transaction Agreement and should not rely on the representations, warranties, and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the parties thereto or any of their respective subsidiaries or affiliates. Information concerning the subject matter of representations and warranties may change after the date of the Transaction Agreements, which subsequent information may or may not be fully reflected in the Company&#8217;s public disclosures.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 24pt">On October 12, 2017, the Company issued a press release entitled &#8220;HC2 Portfolio Company Global Marine Group to Acquire Fugro&#8217;s Trenching and Cable Laying Business.&#8221; A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Business Purchase Agreement, dated as of October 11, 2017, by and among Fugro N.V., Global Marine Systems Limited and Global Marine Holdings LLC.*</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Warranty and Indemnity Agreement, dated as of October 11, 2017, by and among Fugro N.V., Global Marine Systems Limited and Global Marine Holdings LLC.*</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Press Release issued by the Company, dated October 12, 2017.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Exhibit 99.1 shall not be deemed filed for purposes of Section 18 of the Exchange Act, nor shall it be deemed incorporated by reference in any filing under the Securities Act, except as shall be expressly set forth by specific reference in a filing.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Certain schedules and exhibits to this agreement have been omitted pursuant to Item 601(b)(2) of Regulation S-K and the Company agrees to furnish supplementally to the Securities and Exchange Commission a copy of any omitted schedule and/or exhibit upon request.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">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.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">HC2 Holdings, Inc.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">October 12, 2017</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">/s/ Michael J. Sena</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Title: Chief Financial Officer</div>
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[{"type": "8-K", "sequence": "1", "filename": "s001914x1_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 26458}]
{"company-data": {"conformed-name": "HC2 HOLDINGS, INC.", "cik": "0001006837", "assigned-sic": "3440", "irs-number": "541708481", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-35210", "film-number": "171134667"}, "business-address": {"street1": "450 PARK AVENUE", "street2": "30TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "212-235-2690"}, "mail-address": {"street1": "450 PARK AVENUE", "street2": "30TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022"}, "former-company": [{"former-conformed-name": "HC2 Holdings, Inc.", "date-changed": "20140415"}, {"former-conformed-name": "PTGi HOLDING, INC.", "date-changed": "20131108"}, {"former-conformed-name": "PRIMUS TELECOMMUNICATIONS GROUP INC", "date-changed": "19960814"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported):  October 11, 2017
HC2 HOLDINGS, INC.
Delaware
001-35210
54-1708481
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
450 Park Avenue, 30th Floor
New York, NY  10022
(Address of principal executive offices)
(212) 235-2690
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report.)
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:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
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.  ☐
Cover
Item 1.01
Entry into a Material Definitive Agreement
On October 11, 2017, Global Marine Systems Limited ("
GMSL
"), an indirect subsidiary of HC2 Holdings, Inc. (the "
Company
"), entered into a Business Purchase Agreement (the "
BPA
") and a Warranty and Indemnity Agreement (the "
W&I Agreement
"), in each case by and among Fugro N.V., a public limited liability company incorporated in the Netherlands ("
Fugro
"), GMSL and Global Marine Holdings LLC, an indirect subsidiary of the Company and an indirect parent company of GMSL ("
GMHL
").  Pursuant to the BPA, GMSL agreed to acquire the trenching and cable laying business of Fugro (the "
Acquisition
"), consisting of, among other things, 23 employees, one vessel, two trenching systems and working capital.  The obligation of each party to consummate the Acquisition is subject to certain conditions, including, among others, Fugro furnishing certain audited financial statements of the business to be acquired, customary conditions relating to the accuracy of the other party's representations and warranties (subject to certain materiality exceptions) and the other party having performed in all material respects its obligations under the BPA.
As consideration for the Acquisition, (a) GMSL agreed to pay $7,500,000 (the "
Cash Consideration
") to Fugro for a Q1400 Trenching System (the "
Trencher
"), and (b) GMHL agreed to issue to a subsidiary of Fugro (the "
Fugro Member
") membership units representing a 23.6% equity interest in GMHL (excluding management incentive units), valued at $65,000,000.  The limited liability company agreement of GMHL will be amended and restated upon consummation of the Acquisition to reflect such issuance and to provide the Fugro Member with certain rights, including the right to designate two out of the up to seven members of its board of directors, the right to approve certain actions outside the ordinary course of business, certain "tag-along" rights to participate in sales of membership units by other members and, after five years and subject to the Fugro Member first offering its membership units to the other members at a price based upon independent valuations, cause GMHL to be put up for sale in a process led by an investment banking firm.
In order to finance the Cash Consideration, GMSL agreed to incur a loan of $7,500,000 from a subsidiary of Fugro, which bears interest, payable quarterly, at 4% per annum through December 31, 2017, and at 10% per annum thereafter, and matures 365 days following the Acquisition.  The Trencher will serve as collateral security for the repayment of the loan pursuant to the terms of a lien agreement.
Pursuant to the W&I Agreement, each party has certain rights to damages or indemnification in connection with breaches of certain representations, warranties and covenants given by the other party.  The W&I Agreement includes, among other things, thresholds establishing the minimum amount of losses that must be incurred before damages may be claimed and caps with respect the maximum amount of each party's payment obligations.
In order to provide for transitional and general services between the parties after the Acquisition, Fugro and GMSL agreed to enter into a Transitional Services and Framework Services Agreement upon consummation of the Acquisition pursuant to which, among other things, (a) GMSL will use Fugro as a preferred provider for a range of survey, marine site investigation, asset integrity, ROV (operation) and other services required by GMSL in relation to the Acquisition, (b) Fugro and GMSL will cooperate on future work prospects in the "non-trenching", "non-cable laying" market in the event that Fugro requires additional vessel capacity, and (c) Fugro will provide certain transitional services to GMSL for a period of time following the Acquisition.
The foregoing information is a summary of the agreements described above (collectively, the "
Transaction Agreements
") and, as such, is not complete, and is qualified in its entirety by reference to the full text of the Transaction Agreements, copies of which are filed as exhibits to this Current Report on Form 8-K. Investors should review the Transaction Agreements for a complete understanding of the terms and conditions associated with this transaction.
The Transaction Agreements have been included to provide investors with information regarding their terms. They are not intended to provide any other factual information about the parties thereto or their respective subsidiaries or affiliates. The representations, warranties, and covenants contained in each Transaction Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties thereto, may be subject to limitations agreed upon by the contracting parties, including being qualified by confidential disclosures made for the purposes of allocating contractual risk between the parties thereto instead of establishing these matters as facts, and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors are not third-party beneficiaries under any Transaction Agreement and should not rely on the representations, warranties, and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the parties thereto or any of their respective subsidiaries or affiliates. Information concerning the subject matter of representations and warranties may change after the date of the Transaction Agreements, which subsequent information may or may not be fully reflected in the Company's public disclosures.
Item 7.01
Regulation FD Disclosure
On October 12, 2017, the Company issued a press release entitled "HC2 Portfolio Company Global Marine Group to Acquire Fugro's Trenching and Cable Laying Business." A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01
Financial Statements and Exhibits
(d)
Exhibits
Exhibit
No.
2.1
Business Purchase Agreement, dated as of October 11, 2017, by and among Fugro N.V., Global Marine Systems Limited and Global Marine Holdings LLC.*
2.2
Warranty and Indemnity Agreement, dated as of October 11, 2017, by and among Fugro N.V., Global Marine Systems Limited and Global Marine Holdings LLC.*
99.1
Press Release issued by the Company, dated October 12, 2017.
Exhibit 99.1 shall not be deemed filed for purposes of Section 18 of the Exchange Act, nor shall it be deemed incorporated by reference in any filing under the Securities Act, except as shall be expressly set forth by specific reference in a filing.
*
Certain schedules and exhibits to this agreement have been omitted pursuant to Item 601(b)(2) of Regulation S-K and the Company agrees to furnish supplementally to the Securities and Exchange Commission a copy of any omitted schedule and/or exhibit upon request.
SIGNATURES
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.
HC2 Holdings, Inc.
October 12, 2017
By:
/s/ Michael J. Sena
Name: Michael J. Sena
Title: Chief Financial Officer