secwatch.observer — SEC 8-K summary
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Issuer:     Piedmont Realty Trust, Inc. (PDM)
CIK:        0001042776
Form:       8-K
Filed at:   2026-09-15T11:00:06+00:00
Accession:  0001193125-26-391291
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Piedmont prices $200M 2.875% exchangeable notes due 2031, redeems 2028 notes and buys back shares
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- Piedmont priced $200M of 2.875% exchangeable senior notes due 2031; initial exchange price $12.65 per share (37.5% premium over $9.20 close).
- Net proceeds ~$194.3M used to redeem all outstanding 9.250% senior notes due 2028 and repurchase 5,434,782 shares at $9.20 (~$50M).
- Initial purchasers have option to buy up to $30M additional notes within 13 days; proceeds would reach ~$223.5M if exercised.
- Notes issued by Piedmont Operating Partnership, fully guaranteed by Piedmont Realty Trust; settlement on Sept 17, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042776/000119312526391291/0001193125-26-391291-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042776/000119312526391291/d822116d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-391291

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