{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-129050","form_type":"8-K","ticker":"PRCH","cik":"0001784535","company_name":"Porch Group, Inc.","filed_at":"2025-05-28T23:59:59+00:00","discovered_at":"2026-05-14T18:02:49.707207+00:00","generated_at":"2026-05-20T08:27:28.013246+00:00","sec_items":["1.01","2.03","3.02","7.01","8.01","9.01","4.1"],"event_type":"debt","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Porch Group closes $134M convertible note refinancing; retires $144.3M of 2026 notes","bullets":["Repurchased $144.3M of 0.75% convertible notes due 2026; issued $134.0M of new 9.00% convertible notes due 2030.","New notes convertible at ~$15.72/share (60% premium to VWAP); up to ~8.5M shares if converted.","Board authorized repurchase of remaining $29.4M of 2026 notes using balance sheet cash and ~$4M proceeds.","$333.3M of 6.75% convertible notes due 2028 remain; CFO aims for 2-3x leverage and limited dilution.","Company may redeem new notes on/after Nov 20, 2026 if stock price >120% of conversion price for 20 of 30 days."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-129050","json":"https://secwatch.observer/filing/0001193125-25-129050.json","markdown":"https://secwatch.observer/filing/0001193125-25-129050.md","text":"https://secwatch.observer/filing/0001193125-25-129050.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1784535/000119312525129050/0001193125-25-129050-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1784535/000119312525129050/d619990d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-20T08:27:28.013246+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"ae2ce87119c7178cfff727b72d74ea409d016e9d","claim":"Porch Group, Inc. incurred senior notes of $134.0 million with certain institutional investors and holders at 9.00% per annum maturing May 15, 2030.","evidence_excerpt":"On May 27, 2025, the Company issued $134.0 million in aggregate principal amount of 2030 Notes to certain Investors in the Refinancing Transactions pursuant to the terms of the Exchange Agreements, the Indenture and the Global Note.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1784535/000119312525129050/0001193125-25-129050-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$134.0 million"},{"label":"Counterparty","value":"certain institutional investors and holders"},{"label":"Rate","value":"9.00% per annum"},{"label":"Maturity","value":"May 15, 2030"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}