secwatch.observer — SEC 8-K summary
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Issuer:     Orion Properties Inc. (ONL)
CIK:        0001873923
Form:       8-K
Filed at:   2021-11-15T23:59:59+00:00
Accession:  0001104659-21-138494
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 2.03, 3.02, 5.01, 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Orion Office REIT completes spin-off from Realty Income; begins trading Nov 15 under 'ONL'
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- Portfolio of 92 office properties totaling ~10.5M leasable square feet.
- Incurred $620M debt: $425M revolver, $175M term loan, $355M bridge loan; $595M distributed to Realty Income.
- New board and executive officers appointed: Paul McDowell CEO, Gavin Brandon CFO, Chris Day COO, Gary Landriau CIO.
- Arch Street partner received warrants to purchase up to 1.12M shares of ONL common stock.
- Common stock expected to commence trading on NYSE on November 15, 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1873923/000110465921138494/0001104659-21-138494-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1873923/000110465921138494/tm2132857d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-138494

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer