secwatch.observer — SEC 8-K summary
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Issuer:     OFFICE PROPERTIES INCOME TRUST (OPIRQ)
CIK:        0001456772
Form:       8-K
Filed at:   2026-06-23T12:06:12+00:00
Accession:  0001104659-26-076652
Event type: other_material
Sentiment:  negative
Materiality: 0.95
Item codes: 1.01, 1.02, 1.03, 2.03, 3.02, 3.03, 5.01, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OPI exits Chapter 11, cancels old shares, issues $805M in new secured notes
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- Emerged from Chapter 11 on June 17, 2026; old common shares (73.9M) cancelled with no value.
- Issued $420M 10.000% senior secured notes due 2031 and $385M 8.375% notes due 2029.
- ~21.95M new shares issued to noteholders and DIP lenders; noteholders/DIP lenders hold ~67% of new equity.
- Five new trustees elected; existing board replaced; Adam Portnoy and William Lamkin retained.
- Amended management agreements with RMR: $14M annual fee for first 2 years, plus equity incentives up to 8% of new equity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1456772/000110465926076652/0001104659-26-076652-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1456772/000110465926076652/tm2618043d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-076652

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