secwatch.observer — SEC 8-K summary
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Issuer:     PYXUS INTERNATIONAL, INC. (PYYX)
CIK:        0000939930
Form:       8-K
Filed at:   2026-11-10T12:29:33+00:00
Accession:  0000939930-26-000054
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 8.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Pyxus offers to swap $148.3M of 8.50% notes due 2027 for stock at $3.25 plus new floating-rate notes
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- Early-tender holders get $344.37 of stock at $3.25/share plus $675.90 of new floating-rate senior secured notes per $1,000; later tenders get $327.15 plus $642.11.
- Consent solicitation would strip most restrictive covenants, remove the change-of-control repurchase right, eliminate certain defaults and release all collateral securing the notes.
- $148,338,952 of 8.50% notes due 2027 outstanding; early tender deadline Nov 24, 2026, expiration Dec 10, 2026, settlement expected Dec 15, 2026.
- Supporting holders incl. Glendon, Owl Creek, Park West hold ~67.9% of Intabex Term Loans, ~74.9% of Pyxus Term Loans and ~56.0% of Existing Notes under a Nov 5, 2026 support pact.
- Deal needs consents from holders of at least 99% of each of the notes and the Pyxus and Intabex term loans; threshold may be cut to 97% for notes held by non-eligible holders.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/939930/000093993026000054/0000939930-26-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/939930/000093993026000054/pyx-20261110.htm
  HTML page:      https://secwatch.observer/filing/0000939930-26-000054

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