{"schema_version":"secwatch.filing_event.v1","accession":"0001558370-23-006371","form_type":"8-K","ticker":"PRCH","cik":"0001784535","company_name":"Porch Group, Inc.","filed_at":"2023-04-21T23:59:59+00:00","discovered_at":"2026-05-14T18:03:40.557525+00:00","generated_at":"2026-06-16T21:34:25.699422+00:00","sec_items":["1.01","2.03","3.02","9.01","4.1"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Porch Group issues $333M of 6.75% secured convertible notes due 2028; repurchases $200M of 2026 notes","bullets":["Issued $333.334M aggregate principal of 6.75% senior secured convertible notes due 2028 at 95% of par.","Net cash proceeds of ~$100M after repurchasing $200M of 0.75% 2026 notes and repaying $10M subsidiary debt.","Initial conversion price ~$25.00/share; max 13.33M shares issuable upon conversion.","Notes secured by first-priority lien on substantially all assets of Porch and subsidiary guarantors.","Interest semi-annual; maturity Oct 1, 2028; optional redemption after Oct 1, 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0001558370-23-006371","json":"https://secwatch.observer/filing/0001558370-23-006371.json","markdown":"https://secwatch.observer/filing/0001558370-23-006371.md","text":"https://secwatch.observer/filing/0001558370-23-006371.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1784535/000155837023006371/0001558370-23-006371-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1784535/000155837023006371/prch-20230420x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T21:34:25.699422+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"50250973779827c7a7fae5f2402dd45d9ff2fec3","claim":"Porch Group, Inc. incurred convertible notes of $333.334 million with The Investors at 6.75% per annum maturing October 1, 2028.","evidence_excerpt":"On April 20, 2023, the Company issued $333.334 million in aggregate principal amount of 2028 Notes to the Investors in the 2028 Notes Offering pursuant to the terms of the Subscription Agreements, the Indenture and the Global Note.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1784535/000155837023006371/0001558370-23-006371-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$333.334 million"},{"label":"Counterparty","value":"The Investors"},{"label":"Rate","value":"6.75% per annum"},{"label":"Maturity","value":"October 1, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"bcb1bca67e2ff7793fac716e1942f0f7e136e494","claim":"Porch Group, Inc. entered into Indenture with U.S. Bank Trust Company, National Association valued at $333.334 million (effective 2023-04-20).","evidence_excerpt":"The Company issued the 2028 Notes under an indenture, dated as of April 20, 2023 (the “Indenture”), among the Company, certain subsidiaries of the Company, as Subsidiary Guarantors (as defined below), and U.S. Bank Trust Company, National Association (“U.S. Bank”), in its capacity as trustee and as collateral agent thereunder.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1784535/000155837023006371/0001558370-23-006371-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"U.S. Bank Trust Company, National Association"},{"label":"Value","value":"$333.334 million"},{"label":"Effective","value":"2023-04-20"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}