Porch Group Files 8-K, Confirms Nasdaq Listing & Admin Details

Ticker: PRCH · Form: 8-K · Filed: 2024-02-12T00:00:00.000Z

Sentiment: neutral

Topics: administrative, compliance, corporate-governance

TL;DR

**Porch Group filed a routine 8-K, mostly administrative updates, no major news.**

AI Summary

Porch Group, Inc. filed an 8-K on February 12, 2024, reporting on events that occurred on February 9, 2024. This filing primarily serves to update administrative information, such as the company's current address and contact details, and confirms its status as a registrant with common stock trading on The Nasdaq Stock Market LLC under the symbol PRCH. For investors, this filing is largely administrative and does not contain new financial results or significant operational changes that would immediately impact stock valuation, but it confirms the company's ongoing compliance with SEC reporting requirements.

Why It Matters

This filing confirms Porch Group's continued compliance with SEC regulations and its listing on Nasdaq, providing basic transparency for investors.

Risk Assessment

Risk Level: low — This 8-K filing is administrative and does not disclose any new risks or significant changes to the company's operations or financial condition.

Analyst Insight

A smart investor would note this as a routine compliance filing and look for more substantive financial or operational updates from Porch Group, Inc. in future filings or earnings reports.

Key Players & Entities

FAQ

What was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing occurred on February 9, 2024, as stated in the 'Date of Report (Date of earliest event reported)' section.

What is the trading symbol for Porch Group, Inc. on The Nasdaq Stock Market LLC?

The trading symbol for Porch Group, Inc.'s common stock on The Nasdaq Stock Market LLC is PRCH, as listed under 'Securities registered pursuant to Section 12(b) of the Act'.

What is the current business address of Porch Group, Inc.?

The current business address of Porch Group, Inc. is 411 1st Avenue S., Suite 501, Seattle, Washington 98104, according to the 'BUSINESS ADDRESS' section of the filing.

Is Porch Group, Inc. considered an 'emerging growth company' according to this filing?

No, Porch Group, Inc. is not considered an 'emerging growth company' as indicated by the unchecked box next to 'Emerging growth company o' in the filing.

What is the Commission File Number for Porch Group, Inc.?

The Commission File Number for Porch Group, Inc. is 001-39142, as stated in the filing.

Filing Stats: 981 words · 4 min read · ~3 pages · Grade level 11.9 · Accepted 2024-02-12 08:37:50

Key Financial Figures

Filing Documents

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. On February 12, 2024, Porch Group, Inc. (the "Company"), in connection with the repurchase of its 0.75% Senior Unsecured Convertible Notes due September 2026 ("2026 Notes"), issued a press release announcing preliminary financial information for the quarter ended December 31, 2023. The full text of the press release issued in connection with the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

01. Other Events

Item 8.01. Other Events . On February 9, 2024, the Company entered into an agreement to repurchase $8 million aggregate principal amount of its 2026 Notes in a private transaction that is expected to close on February 15, 2024, subject to customary closing conditions. The Company will pay $3 million, or 37.5% of par, in the repurchase transaction. This transaction will reduce the Company's medium term debt maturity from $225 million to $217 million.

Forward-Looking Statements

Forward-Looking Statements Certain statements in this Current Report on Form 8-K may be considered "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995, including the expected closing of the repurchase transaction. Forward-looking statements are inherently subject to risks, uncertainties, assumptions, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management at the time they are made, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the Company's ability to satisfy the conditions to closing of the repurchase transaction; and (2) other risks and uncertainties discussed in Part I, Item 1A, "Risk Factors," in the Company's Annual Report on Form 10-K ("Annual Report") for the year ended December 31, 2022, in Part II, Item 1A, "Risk Factors," in our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023, and September 30, 2023, as well as those discussed in subsequent reports filed with the Securities and Exchange Commission ("SEC"), all of which are available on the SEC's website at www.sec.gov. Nothing in this Current Report on Form 8-K should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date of this Current Report on Form 8-K. Unless specifically indicated otherwise, the forward-looking statements in this Current Report on Form 8-K do not reflect the potential impact o

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release, dated February 12, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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. PORCH GROUP, INC. By: /s/ Shawn Tabak Name: Shawn Tabak Title: Chief Financial Officer Date: February 12, 2024

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