Porch Group Inc. Reduces 2026 Debt Maturity to $29 Million with New Refinancing Transactions

Reuters

05-20

Porch Group Inc. Reduces 2026 Debt Maturity to $29 Million with New Refinancing Transactions

Porch Group Inc., a homeowners insurance company, has announced a deleveraging transaction involving the repurchase of $144.3 million of its 0.75% Convertible Senior Notes due 2026. This move reduces the company's 2026 debt maturity to $29 million. Concurrently, Porch Group has priced a private offering of $134.0 million in 9.00% Convertible Senior Unsecured Notes due 2030, expected to close by May 27, 2025. The transaction aims to strengthen the balance sheet and align with leverage targets, minimizing shareholder dilution. The 2030 Notes will be issued privately and are not registered under the Securities Act. Goldman Sachs acted as the exclusive placement agent for the offering.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Porch Group Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250519873203) on May 19, 2025, and is solely responsible for the information contained therein.

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Reduces 2026 Debt Maturity to $29 Million with New Refinancing Transactions\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time smaller\">2025-05-20 06:27</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      Porch Group Inc. Reduces 2026 Debt Maturity to $29 Million with New Refinancing Transactions\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        Porch Group Inc., a homeowners insurance company, has announced a deleveraging transaction involving the repurchase of $144.3 million of its 0.75% Convertible Senior Notes due 2026. This move reduces the company's 2026 debt maturity to $29 million. Concurrently, Porch Group has priced a private offering of $134.0 million in 9.00% Convertible Senior Unsecured Notes due 2030, expected to close by May 27, 2025. The transaction aims to strengthen the balance sheet and align with leverage targets, minimizing shareholder dilution. The 2030 Notes will be issued privately and are not registered under the Securities Act. 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ID: 20250519873203) on May 19, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250519:nNDL97S9gc:1","article_id":"2536145653","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2536145653","pubTimestamp":1747693642,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Porch Group Inc., a homeowners insurance company, has announced a deleveraging transaction involving the repurchase of $144.3 million of its 0.75% Convertible Senior Notes due 2026. This move reduces the company's 2026 debt maturity to $29 million. Concurrently, Porch Group has priced a private offering of $134.0 million in 9.00% Convertible Senior Unsecured Notes due 2030, expected to close by May 27, 2025. The transaction aims to strengthen the balance sheet and align with leverage targets, minimizing shareholder dilution. The 2030 Notes will be issued privately and are not registered under the Securities Act. Goldman Sachs acted as the exclusive placement agent for the offering.Disclaimer: This news brief was created by Public Technologies  using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 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