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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1006837	Hc2 Holdings Inc.	HCHC	Telephone Communications (No Radiotelephone) (4813)	541708481

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1512716	Dg Capital Management, Llc	460 Park Avenue 22Nd Floor New York NY 10022		No	No	Yes	No
1609920	Dov Gertzulin	460 Park Avenue, 22Nd Floor New York NY 10022		No	No	No	Yes

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2015-03-31	60,886	$11.02	1,084,805	No	4	S	Indirect	See Footnote
Common Stock	Disposition	2015-04-01	4,897	$10.95	1,079,908	No	4	S	Indirect	See Footnote
Common Stock	Disposition	2015-04-01	11,675	$10.91	1,068,233	No	4	S	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See Footnote
No	4	S	Indirect	See Footnote
No	4	S	Indirect	See Footnote

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Series A Convertible Participating Preferred Stock	$0.00			0	5,000	Indirect
Common Stock	Series A-1 Convertible Participating Preferred Stock	$0.00			0	1,000	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	0	5,000	Indirect
	0	1,000	Indirect

Footnotes

Shares reported herein are held for the account of private investment funds for which DG Capital Management, LLC serves as investment adviser. Mr. Gertzulin serves as the Managing Member of DG Capital Management, LLC. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that either of the Reporting Persons is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934 or for any other purpose.
The Series A Convertible Participating Preferred Stock was convertible as of the date of issuance and has no expiration date. As of the date of this Form 4, each share of the Issuer's Series A Convertible Participating Preferred Stock is convertible into shares of the Issuer's common stock at rate of $1,000 divided by $4.00, subject to adjustment upon the occurrence of certain events.
The Series A-1 Convertible Participating Preferred Stock was convertible as of the date of issuance and has no expiration date. As of the date of this Form 4, each share of the Issuer's Series A-1 Convertible Participating Preferred Stock is convertible into shares of the Issuer's common stock at rate of $1,000 divided by $4.25, subject to adjustment upon the occurrence of certain events.