---
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"
generated_at: "2026-05-20T08:27:28.013246+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Porch Group closes $134M convertible note refinancing; retires $144.3M of 2026 notes

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 8.01, 9.01, 4.1
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-129050
- JSON: https://secwatch.observer/filing/0001193125-25-129050.json
- Plain text: https://secwatch.observer/filing/0001193125-25-129050.txt

## Key facts
- Debt Financings
  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.
  - Instrument: senior notes
  - Principal: $134.0 million
  - Counterparty: certain institutional investors and holders
  - Rate: 9.00% per annum
  - Maturity: May 15, 2030
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1784535/000119312525129050/0001193125-25-129050-index.htm

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