---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-173893"
form_type: "8-K"
ticker: "DOUG"
cik: "0001878897"
company_name: "Douglas Elliman Inc."
filed_at: "2024-07-02T23:59:59+00:00"
generated_at: "2026-05-31T23:50:37.542316+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Douglas Elliman issues $50M convertible notes to Kennedy Lewis; Q2 GTV prelim $10.25-$11.25B

## Summary
- Issued $50M senior secured convertible notes due 2029 at 7% cash/8% PIK interest, conversion price $1.50 per share (19% premium).
- Preliminary Q2 gross transaction value $10.25B-$11.25B vs Q1 $7.1B; cash $92M as of June 30 after $7.75M litigation settlement.
- David K. Chene (Kennedy Lewis) and Patrick J. Bartels appointed to board; Ronald J. Kramer and Lynn Mestel resigned.
- Kennedy Lewis can nominate a director while holding at least one-third of its initial investment.
- Negative covenant: if Consolidated Adjusted EBITDA below $0 for two consecutive quarters, must maintain $20M liquidity.

## SEC filing metadata
- accession: 0001193125-24-173893
- form_type: 8-K
- ticker: DOUG
- cik: 0001878897
- company_name: Douglas Elliman Inc.
- filed_at: 2024-07-02T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 3.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1878897/000119312524173893/0001193125-24-173893-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1878897/000119312524173893/d657095d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-173893
- JSON: https://secwatch.observer/filing/0001193125-24-173893.json
- Plain text: https://secwatch.observer/filing/0001193125-24-173893.txt

## Key facts
- Executive change
  Patrick J. Bartels Jr. was appointed as Class III Director at Douglas Elliman Inc..
  - Action: appointed
  - Role: Class III Director
  source text: On July 2, 2024, effective immediately after Closing, the Board appointed David K. Chene and Patrick J. Bartels Jr. as Class III directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1878897/000119312524173893/0001193125-24-173893-index.htm
- Executive change
  David K. Chene was appointed as Class III Director at Douglas Elliman Inc..
  - Action: appointed
  - Role: Class III Director
  source text: On July 2, 2024, effective immediately after Closing, the Board appointed David K. Chene and Patrick J. Bartels Jr. as Class III directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1878897/000119312524173893/0001193125-24-173893-index.htm
- Executive change
  Ronald J. Kramer resigned as Director at Douglas Elliman Inc..
  - Action: resigned
  - Role: Director
  source text: Ronald J. Kramer and Lynn Mestel resigned from the Board and all committees thereof.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1878897/000119312524173893/0001193125-24-173893-index.htm
- Executive change
  Lynn Mestel resigned as Director at Douglas Elliman Inc..
  - Action: resigned
  - Role: Director
  source text: Ronald J. Kramer and Lynn Mestel resigned from the Board and all committees thereof.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1878897/000119312524173893/0001193125-24-173893-index.htm

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