secwatch.observer — SEC 8-K summary
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Issuer:     Pebblebrook Hotel Trust (PEB)
CIK:        0001474098
Form:       8-K
Filed at:   2025-09-22T23:59:59+00:00
Accession:  0001474098-25-000129
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pebblebrook raises $400M 1.625% convertible notes due 2030; repurchases $400M 2026 notes and 4.3M shares
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- Issued $400M aggregate principal of 1.625% Convertible Senior Notes due Jan 15, 2030; net proceeds ~$389.7M.
- Used proceeds plus $4.1M cash to repurchase $400M of outstanding 1.75% Convertible Notes due 2026 in private transactions.
- Repurchased ~4.3M common shares at $11.56 per share via existing buyback program concurrent with note pricing.
- Initial conversion price ~$15.89/share (37.5% premium over $11.56 close); capped call transactions cap dilution at $20.23/share.
- Notes are senior unsecured, redeemable after July 20, 2028 if stock price exceeds 130% of conversion price for 20 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1474098/000147409825000129/0001474098-25-000129-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1474098/000147409825000129/peb-20250916.htm
  HTML page:      https://secwatch.observer/filing/0001474098-25-000129

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer