{"schema_version":"secwatch.filing_event.v1","accession":"0001873923-25-000124","form_type":"8-K","ticker":"ONL","cik":"0001873923","company_name":"Orion Properties Inc.","filed_at":"2025-09-22T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.474471+00:00","generated_at":"2026-05-17T06:00:38.146974+00:00","sec_items":["7.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Orion Properties updates business plan, rejects two acquisition bids at $2.50-$2.75 per share","bullets":["Leased 3.6M sq ft since 2021 spin-off; WALT extended to 5.5 years from 4.1 years.","Sold 24 vacant/nearly vacant properties for $93.2M aggregate proceeds, saving ~$20M annually in carry costs.","Acquired one dedicated-use asset in San Ramon, CA for $34.6M at a 7.4% cash cap rate.","Plans to sell 9 vacant/near-term vacant properties in 2025 for nearly $80M, avoiding ~$80M in capex.","Board rejected two unsolicited bids at $2.50 and $2.75 per share as significantly undervaluing the Company."],"urls":{"canonical":"https://secwatch.observer/filing/0001873923-25-000124","json":"https://secwatch.observer/filing/0001873923-25-000124.json","markdown":"https://secwatch.observer/filing/0001873923-25-000124.md","text":"https://secwatch.observer/filing/0001873923-25-000124.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1873923/000187392325000124/0001873923-25-000124-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1873923/000187392325000124/onl-20250922.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T06:00:38.146974+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}