Pebblebrook Hotel Trust Files 8-K/A Amendment
Ticker: PEB-PH · Form: 8-K/A · Filed: Oct 4, 2024 · CIK: 1474098
| Field | Detail |
|---|---|
| Company | Pebblebrook Hotel Trust (PEB-PH) |
| Form Type | 8-K/A |
| Filed Date | Oct 4, 2024 |
| Risk Level | low |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $0.01, $400 million, $390.0 m, $353.3 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: amendment, material-agreement, preferred-stock
TL;DR
Pebblebrook Hotel Trust amended a key agreement; check details on common/preferred stock.
AI Summary
Pebblebrook Hotel Trust filed an amendment (8-K/A) on October 4, 2024, to a material definitive agreement originally reported on October 3, 2024. The filing pertains to the company's common stock and preferred stock series E, F, G, and H, with all events reported as of October 3, 2024.
Why It Matters
This amendment clarifies or updates details regarding a material definitive agreement, which could impact the terms of Pebblebrook Hotel Trust's common and preferred stock.
Risk Assessment
Risk Level: low — This is an amendment to a previous filing, likely clarifying or updating existing information rather than introducing new material risks.
Key Players & Entities
- Pebblebrook Hotel Trust (company) — Registrant
- October 3, 2024 (date) — Earliest event reported
- October 4, 2024 (date) — Filing date
- Maryland (location) — State of incorporation
FAQ
What specific material definitive agreement is being amended by this 8-K/A filing?
The filing does not specify the exact nature of the material definitive agreement being amended, only that it is an amendment to a previously reported agreement.
What is the primary purpose of this amendment (8-K/A) for Pebblebrook Hotel Trust?
The purpose is to amend a previous report concerning a material definitive agreement, indicating updates or clarifications to terms related to the company's stock.
Which series of preferred stock are mentioned in relation to the October 3, 2024 event date?
Series E, F, G, and H preferred stock are mentioned, along with common stock, as being related to the event date of October 3, 2024.
When was the original event reported that this 8-K/A filing amends?
The original event was reported as of October 3, 2024.
What is Pebblebrook Hotel Trust's state of incorporation and IRS Employer Identification Number?
Pebblebrook Hotel Trust is incorporated in Maryland and has an IRS Employer Identification Number of 27-1055421.
Filing Stats: 1,729 words · 7 min read · ~6 pages · Grade level 13.5 · Accepted 2024-10-04 16:14:10
Key Financial Figures
- $0.01 — nge on which registered Common Shares, $0.01 par value per share PEB New York Stock
- $400 million — ry of the Operating Partnership, issued $400 million aggregate principal amount of their 6.3
- $390.0 m — he Private Placement were approximately $390.0 million, after deducting the initial purc
- $353.3 million — acement, the Operating Partnership used $353.3 million of the net proceeds to pay down three o
Filing Documents
- peb-20241003.htm (8-K/A) — 45KB
- 0001474098-24-000123.txt ( ) — 232KB
- peb-20241003.xsd (EX-101.SCH) — 3KB
- peb-20241003_def.xml (EX-101.DEF) — 17KB
- peb-20241003_lab.xml (EX-101.LAB) — 31KB
- peb-20241003_pre.xml (EX-101.PRE) — 18KB
- peb-20241003_htm.xml (XML) — 6KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. 6.375% Senior Secured Notes due 2029 On October 3, 2024, Pebblebrook Hotel, L.P. (the " Operating Partnership "), which is the operating partnership of Pebblebrook Hotel Trust (the " Company "), and PEB Finance Corp. (" Finance Corp. " and, together with the Operating Partnership, the " Issuers "), a wholly owned subsidiary of the Operating Partnership, issued $400 million aggregate principal amount of their 6.375% senior notes due 2029 (the " Notes "). Private Placement and Use of Proceeds The Notes were sold in a private placement (the " Private Placement ") in the United States only to accredited investors pursuant to an exemption from the Securities Act of 1933, as amended (the " Securities Act "), and subsequently resold to persons reasonably believed to be "qualified institutional buyers" pursuant to Rule 144A under the Securities Act and to non-U.S. persons pursuant to Regulation S under the Securities Act. The estimated net proceeds to the Operating Partnership from the Private Placement were approximately $390.0 million, after deducting the initial purchasers' discounts and estimated offering expenses payable by the Operating Partnership. Concurrently with the closing of the Private Placement, the Operating Partnership used $353.3 million of the net proceeds to pay down three of its unsecured terms loans as described under Item 8.01 of this Current Report on Form 8-K. The Operating Partnership will use the balance of the net proceeds to pay down part of one or more of the Operating Partnership's unsecured term loans and/or repurchase a portion of the convertible senior notes of the Company. Indenture and Notes The Notes were issued under an indenture, dated October 3, 2024 (the " Indenture "), among the Issuers, the Company, the subsidiary guarantors party thereto and UMB Bank, National Association, as trustee (the " Trustee "). Maturity and Interest The Notes will mature on October 15, 2029.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PEBBLEBROOK HOTEL TRUST October 4, 2024 By: /s/ Raymond D. Martz Name: Raymond D. Martz Title: Co-President, Chief Financial Officer, Treasurer and Secretary