secwatch.observer — SEC 8-K summary
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Issuer:     PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (—)
CIK:        0000077281
Form:       8-K
Filed at:   2024-04-01T23:59:59+00:00
Accession:  0001193125-24-082993
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.03, 3.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PREIT emerges from Chapter 11; all existing equity cancelled, holders receive $10M cash
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- Effective Date of prepackaged Chapter 11 Plan occurred April 1, 2024, ending bankruptcy cases.
- All common shares (PRETQ) and Series B, C, D preferred shares cancelled and extinguished.
- Existing equity holders receive pro rata share of $10M cash, carved out from second lien lenders.
- Board of Trustees' terms expired as of Effective Date; severance amendments for two officers executed.
- Professional fee claims must be filed by May 16, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/77281/000119312524082993/0001193125-24-082993-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/77281/000119312524082993/d823318d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-082993

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