secwatch.observer — SEC 8-K summary
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Issuer:     Porch Group, Inc. (PRCH)
CIK:        0001784535
Form:       8-K
Filed at:   2026-10-13T21:00:39+00:00
Accession:  0001784535-26-000054
Event type: m_and_a
Sentiment:  positive
Materiality: 0.65
Item codes: 3.02, 1.01, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Porch Group to acquire Allied Trust for $200M; adds ~$200M reciprocal premium, $25M EBITDA
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- Total consideration $200M: Reciprocal pays $105M for Allied Trust Insurance Company ($55M at close + $50M deferred over 12 months); HOA Holdco pays $95M for MGA and captive reinsurer.
- Expected to add ~$200M Reciprocal Written Premium and ~$25M Adjusted EBITDA (Excluding Reciprocal) in first full year; acquisition multiple under 4x.
- Adds Louisiana (new state, ~half of Allied Trust's 2025 premiums) plus Texas, South Carolina, North Carolina operations; closes in Q1 2027.
- Closing subject to Texas Department of Insurance approval; no earlier than Jan 1, 2027; termination date April 1, 2027; $20M R&W insurance policy.
- Assuming Jan 1, 2027 close, Porch targets 2027 RWP >$900M, Reciprocal Policies Written >360k, Adjusted EBITDA (Excluding Reciprocal) >$180M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1784535/000178453526000054/0001784535-26-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1784535/000178453526000054/prch-20261013.htm
  HTML page:      https://secwatch.observer/filing/0001784535-26-000054

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