---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-001536"
form_type: "8-K"
ticker: "PRSI"
cik: "0000079661"
company_name: "PORTSMOUTH SQUARE INC"
filed_at: "2025-01-10T23:59:59+00:00"
generated_at: "2026-05-28T05:58:19.929171+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Portsmouth Square receives loan default notice; $97M debt may be accelerated

## Summary
- Notice of termination event received Jan 3, 2025; Justice failed to pay $97M principal by forbearance deadline Jan 1.
- Outstanding senior loan $78,640,922 and mezzanine loan $27,501,893 as of filing date.
- Lenders can accelerate loans and foreclose; company cannot predict timing of enforcement.
- Refinancing efforts with Hart Advisors and PCCP ongoing; no assurance of favorable resolution.

## SEC filing metadata
- accession: 0001493152-25-001536
- form_type: 8-K
- ticker: PRSI
- cik: 0000079661
- company_name: PORTSMOUTH SQUARE INC
- filed_at: 2025-01-10T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.04, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/79661/000149315225001536/0001493152-25-001536-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/79661/000149315225001536/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-001536
- JSON: https://secwatch.observer/filing/0001493152-25-001536.json
- Plain text: https://secwatch.observer/filing/0001493152-25-001536.txt

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