secwatch.observer — SEC 8-K summary
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Issuer:     Piedmont Realty Trust, Inc. (PDM)
CIK:        0001042776
Form:       8-K
Filed at:   2026-09-17T20:15:39+00:00
Accession:  0001193125-26-394364
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Piedmont Realty Trust issues $230M 2.875% exchangeable senior notes due 2031
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- Issued $230M principal of 2.875% exchangeable senior notes due Feb 1, 2031; initial exchange rate 79.0514 shares/$1,000 (price ~$12.65).
- Net proceeds, alongside other sources, will redeem all outstanding 9.250% senior notes due 2028 and pay make-whole premium and accrued interest.
- Concurrently repurchased 5,434,782 shares of common stock for ~$50M from note purchasers in private transactions.
- Notes are fully guaranteed by Piedmont Realty Trust; exchangeable for cash and/or stock at issuer's election.
- Includes $30M of option notes exercised; registration rights agreement filed for resale of exchange shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042776/000119312526394364/0001193125-26-394364-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042776/000119312526394364/d153824d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-394364

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