---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-122557"
form_type: "8-K"
ticker: "PRCH"
cik: "0001784535"
company_name: "Porch Group, Inc."
filed_at: "2025-05-20T23:59:59+00:00"
generated_at: "2026-05-21T00:19:08.683470+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Porch Group replaces $144M of 2026 notes with $134M of 9% convertible notes due 2030

## Summary
- Repurchased $144.3M of 0.75% 2026 notes; issued $134.0M of 9.00% convertible unsecured notes due 2030.
- Remaining 2026 debt reduced to $29.4M; expected to be settled with balance sheet cash and $4M net proceeds.
- New 2030 notes have conversion price at ~60% premium to stock VWAP; redeemable after Nov 20, 2026 if stock price >120% of conversion price.
- Post-closing debt: $29.4M (2026), $333.3M (6.75% 2028 secured), $134.0M (9% 2030).
- Transaction expected to close May 27, 2025; Goldman Sachs served as exclusive placement agent.

## SEC filing metadata
- accession: 0001193125-25-122557
- form_type: 8-K
- ticker: PRCH
- cik: 0001784535
- company_name: Porch Group, Inc.
- filed_at: 2025-05-20T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1784535/000119312525122557/0001193125-25-122557-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1784535/000119312525122557/d932606d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-122557
- JSON: https://secwatch.observer/filing/0001193125-25-122557.json
- Plain text: https://secwatch.observer/filing/0001193125-25-122557.txt

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