Highest-materiality recent filing
OPI exits Chapter 11, cancels old shares, issues $805M in new secured notes
Emerged from Chapter 11 on June 17, 2026; old common shares (73.9M) cancelled with no value.
Office Properties Income Trust remains in Chapter 11; files April 2026 MOR
Debtors filed Monthly Operating Report for April 1-30, 2026 with Bankruptcy Court.
OPI extends DIP facility maturity to May 31, 2026; files March MOR in Chapter 11
DIP facility maturity extended from May 4 to May 31, 2026 with consent of 9.000% Senior Secured Noteholders.
Court entered Confirmation Order on April 22, 2026, approving Fourth Amended Joint Chapter 11 Plan.
OPI reaches amended settlement with 2027 noteholders; $385M note at 8.375%
Amended settlement includes $385M secured promissory note at 8.375% interest, issued by a new SPV.
OPI in Chapter 11; audited 2025 financials show going concern doubt; negotiating with noteholders
Audited 2025 financials delivered; Deloitte includes going-concern qualification due to Chapter 11 filing.
OPI Chapter 11 settlements: $35M ERO, $385M 2027 note, unsecured 6.3% recovery
Plan enterprise value $1.75B; implied plan equity value $428M.
Filed liquidation analysis, financial projections (May 2026–Dec 2030), and valuation analysis in Chapter 11 Disclosure Statement on Feb 19, 2026.
OPI files amended Dec 2025 operating report; net negative interest of $1.7M due to reclassification
Amended MOR filed for December 1-31, 2025 period, reflecting interest expense adjustments including reclassification of certain interest to OPI.
OPI gets $125M DIP facility in Chapter 11, exit fee cut to 4.5%
Bankruptcy Court entered Final DIP Order on Feb 4, 2026, approving amended DIP credit agreement with up to $125M total facility.
OPI files Chapter 11 plan cancelling all common shares with no recovery for holders
Plan and Disclosure Statement filed Jan 9, 2026 in Bankruptcy Court.
OPI files Nov 2025 MOR in Chapter 11; $10M DIP draw, $10.7M asset sale
Debtors drew $10M under DIP facility on Nov 6, 2025, per MOR notes.
Chapter 11 mediation among debtors, ad hoc noteholder groups, and other creditors terminated Dec 22 without a settlement.
OPI files Schedules of Assets and Liabilities in Chapter 11 case
Debtors (OPI and subsidiaries) filed Schedules of Assets and Liabilities and Statements of Financial Affairs on Dec 15, 2025.
OPI files Chapter 11, obtains $125M DIP facility at 12% interest
Voluntary Chapter 11 petitions filed Oct 30, 2025 to implement restructuring under RSA.
OPI discloses preliminary business plan to debt holders; restructuring talks ongoing
OPI disclosed preliminary business plan (August 2025) to ad hoc groups of holders of 2027, March 2029, September 2029 secured notes, secured credit facility lenders, and unsecured noteholders.
OPI files Chapter 11, enters RSA to reduce debt from $2.4B to $1.3B
Filed voluntary Chapter 11 petitions on Oct 30, 2025 in Southern District of Texas to implement comprehensive restructuring.
Office Properties Income Trust misses $1.8M interest payment on 2031 Notes
Did not make required $1.8M interest payment on 3.450% Senior Notes due 2031 on Oct 15, 2025.
OPI receives Nasdaq delisting notice, misses interest payments on two senior secured notes
Common shares to be delisted from Nasdaq on Oct 6, 2025 after bid price stayed below $1.00; no appeal planned.
OPI appoints AlixPartners' John Castellano as Chief Restructuring Officer
Board of Trustees appointed John Castellano as Chief Restructuring Officer, effective September 15, 2025.
OPI suspends quarterly cash distribution of $0.01 per share to preserve cash
Quarterly distribution suspended; previously $0.01/share ($0.04 annualized).
Office Properties Income Trust files ATM offering of up to $99.66M in common shares
Filed prospectus supplement for at-the-market offering of common shares up to $99,655,398.
Confidential exchange discussions ended without agreement on rate, guaranties, or covenants; no deal reached.
Nasdaq notifies OPI of non-compliance with $1.00 minimum bid price rule
Received Nasdaq deficiency notice on March 25, 2025; common shares closed below $1.00 for 30+ consecutive business days.
OPI enters $100M ATM equity offering, boosts authorized shares to 250M
Entered ATM sales agreement with Clear Street LLC to sell up to $100M of common shares; 3% commission to agent.
OPI launches exchange offers for up to $175M of existing notes; new 8% notes due 2030
Exchange offers for 2.65% notes due 2026, 2.40% notes due 2027, and 3.45% notes due 2031.
OPI files prospectus for resale of 5.7M shares issued in debt exchange for $340M notes
Exchange offer: up to $340M of 2025 senior unsecured notes swapped for $445M of 3.250% secured notes due 2027, 11.5M common shares, and cash.
Exchanged $340M of 4.50% senior unsecured notes due 2025 for $445M of new 3.25% secured notes due 2027, 11.5M common shares, and $25M premiums.
Exchange of up to $340M of 2025 unsecured notes for $445M new 3.25% secured notes due 2027, ~11.5M common shares (19.9% of outstanding), and cash premiums.
OPI discloses $455M secured note exchange proposal with ad hoc debt holder group
Ad Hoc Group proposes exchanging ~$460M of 4.500% 2025 Notes for 19.9% equity, $75M cash, and $455M Senior Secured Notes due 2027.
OPI issues $567M 9% secured notes due 2029 via exchange of $865M unsecured notes
Exchanged $865.2M of existing 2025–2031 unsecured notes for $567.4M of new 9% senior secured notes due Sept 30, 2029.
OPI enters support agreement for $432M exchange offer; extends expiration to June 17
Support agreement with noteholders to tender ~$432M of existing notes; OPI to issue 1.43M common shares and new 9% secured notes.
Amended exchange offers for four series of existing unsecured notes (2025, 2026, 2027, 2031) for new 9.000% Senior Secured Notes due 2029, up to $610M aggregate principal.
Maximum aggregate principal amount of new 9% Senior Secured Notes due 2029 is $610 million.
OPI offers exchange of up to $610M existing notes for new 9% secured notes due 2029
Exchange offers cover 4 series of unsecured notes due 2025/2026/2027/2031 for up to $610M of new 9.000% senior secured notes due 2029.
Yael Duffy, Donna D. Fraiche, Barbara D. Gilmore, William A. Lamkin, Timothy R. Pohl, Adam D. Portnoy, Jeffrey P. Somers and Mark A. Talley resigned as trustees of the Company.
Yael Duffy, Donna D. Fraiche, Barbara D. Gilmore, William A. Lamkin, Timothy R. Pohl, Adam D. Portnoy, Jeffrey P. Somers and Mark A. Talley resigned as trustees of the Company.
Yael Duffy, Donna D. Fraiche, Barbara D. Gilmore, William A. Lamkin, Timothy R. Pohl, Adam D. Portnoy, Jeffrey P. Somers and Mark A. Talley resigned as trustees of the Company.
Jonathan Heller, Jonathan Kolatch, William A. Lamkin, Adam D. Portnoy and Irvin Schlussel (each, a “ New Trustee ”) were elected as members of the board of trustees of the Company.
Yael Duffy, Donna D. Fraiche, Barbara D. Gilmore, William A. Lamkin, Timothy R. Pohl, Adam D. Portnoy, Jeffrey P. Somers and Mark A. Talley resigned as trustees of the Company.
Yael Duffy, Donna D. Fraiche, Barbara D. Gilmore, William A. Lamkin, Timothy R. Pohl, Adam D. Portnoy, Jeffrey P. Somers and Mark A. Talley resigned as trustees of the Company.
Jonathan Heller, Jonathan Kolatch, William A. Lamkin, Adam D. Portnoy and Irvin Schlussel (each, a “ New Trustee ”) were elected as members of the board of trustees of the Company.
Jonathan Heller, Jonathan Kolatch, William A. Lamkin, Adam D. Portnoy and Irvin Schlussel (each, a “ New Trustee ”) were elected as members of the board of trustees of the Company.
Yael Duffy, Donna D. Fraiche, Barbara D. Gilmore, William A. Lamkin, Timothy R. Pohl, Adam D. Portnoy, Jeffrey P. Somers and Mark A. Talley resigned as trustees of the Company.
Yael Duffy, Donna D. Fraiche, Barbara D. Gilmore, William A. Lamkin, Timothy R. Pohl, Adam D. Portnoy, Jeffrey P. Somers and Mark A. Talley resigned as trustees of the Company.
Jonathan Heller, Jonathan Kolatch, William A. Lamkin, Adam D. Portnoy and Irvin Schlussel (each, a “ New Trustee ”) were elected as members of the board of trustees of the Company.
Jonathan Heller, Jonathan Kolatch, William A. Lamkin, Adam D. Portnoy and Irvin Schlussel (each, a “ New Trustee ”) were elected as members of the board of trustees of the Company.
Max materiality 1.00 · Median 0.75 · Most common event other_material