---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-018164"
form_type: "8-K"
ticker: null
cik: "0000077281"
company_name: "PENNSYLVANIA REAL ESTATE INVESTMENT TRUST"
filed_at: "2024-01-29T23:59:59+00:00"
generated_at: "2026-06-06T16:14:21.991523+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Bankruptcy Court confirms PREIT’s prepackaged Chapter 11 plan; existing equity cancelled

## Summary
- Equitization of $727M second lien debt for 65% of new common stock; $10M equity gift to existing holders.
- First lien ($420.1M) and DIP ($60M) rolled into $480M exit term loan plus $75M revolver.
- All existing preferred and common shares cancelled; PREIT to cease being publicly traded.
- New board: Vishal Chanani, Joe Coradino, Eric Hsiao; current officers continue.
- Effective date expected on or before February 15, 2024.

## SEC filing metadata
- accession: 0001193125-24-018164
- form_type: 8-K
- cik: 0000077281
- company_name: PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
- filed_at: 2024-01-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/77281/000119312524018164/0001193125-24-018164-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/77281/000119312524018164/d756272d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-018164
- JSON: https://secwatch.observer/filing/0001193125-24-018164.json
- Plain text: https://secwatch.observer/filing/0001193125-24-018164.txt

## Key facts
- Distress & Bankruptcy
  PENNSYLVANIA REAL ESTATE INVESTMENT TRUST entered chapter 11 in United States Bankruptcy Court for the District of Delaware (petition 2023-12-10).
  - Proceeding: chapter 11
  - Court: United States Bankruptcy Court for the District of Delaware
  - Petition: 2023-12-10
  source text: filed voluntary petitions (the cases commenced thereby, the “ Chapter 11 Cases ”) under chapter 11 of title 11 of the United States Code (the “ Bankruptcy Code ”) in the United States Bankruptcy Court for the District of Delaware (the “ Bankruptcy Court ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/77281/000119312524018164/0001193125-24-018164-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.