0000950170-24-040788.txt : 20240403
0000950170-24-040788.hdr.sgml : 20240403
20240403120012
ACCESSION NUMBER: 0000950170-24-040788
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240401
FILED AS OF DATE: 20240403
DATE AS OF CHANGE: 20240403
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: DeMarco Michael J.
CENTRAL INDEX KEY: 0001499706
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-06300
FILM NUMBER: 24817513
MAIL ADDRESS:
STREET 1: C/O MACK-CALI REALTY CORPORATION
STREET 2: HARBORSIDE 3, 210 HUDSON ST., STE. 400
CITY: JERSEY CITY
STATE: NJ
ZIP: 07311
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
CENTRAL INDEX KEY: 0000077281
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798]
ORGANIZATION NAME: 05 Real Estate & Construction
IRS NUMBER: 236216339
STATE OF INCORPORATION: PA
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: ONE COMMERCE SQUARE
STREET 2: 2005 MARKET STREET, SUITE 1000
CITY: PHILADELPHIA
STATE: PA
ZIP: 19103
BUSINESS PHONE: 2158750426
MAIL ADDRESS:
STREET 1: ONE COMMERCE SQUARE
STREET 2: 2005 MARKET STREET, SUITE 1000
CITY: PHILADELPHIA
STATE: PA
ZIP: 19103
4
1
ownership.xml
4
X0508
4
2024-04-01
true
0000077281
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
PRETQ
0001499706
DeMarco Michael J.
C/O PENN. REAL ESTATE INVESTMENT TRUST
2005 MARKET STREET, SUITE 1000
PHILADELPHIA
PA
19103
true
false
false
false
false
Shares of Beneficial Interest, par value $1.00 per share
2024-04-01
4
J
false
3712
D
0
D
On December 10, 2023, Pennsylvania Real Estate Investment Trust (the "Issuer") and certain of its direct and indirect affiliates (collectively, with the Issuer, the "Debtors"), filed voluntary petitions under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") to pursue a joint prepackaged chapter 11 plan as contemplated by the Restructuring Support Agreement, dated December 7, 2023. On January 23, 2024, the Bankruptcy Court entered an order confirming the Modified Joint Prepackaged Chapter 11 Plan of Reorganization of Pennsylvania Real Estate Investment Trust and Its Debtor-Affiliates (the "Plan") of the Debtors. On April 1, 2024 (the "Effective Date"), the Plan became effective pursuant to its terms and the Debtors emerged from bankruptcy.
On the Effective Date, all classes of preferred and common securities issued by the Company, namely the Company's prior Shares of Beneficial Interest, par value $1.00 per share (the "Common Shares"), including any remaining outstanding restricted share units, performance-based restricted share units, options, warrants, rights, or other securities or agreements to acquire such Common Shares, Series B Preferred Shares, par value $0.01 per share, Series C Preferred Shares, par value $0.01 per share, and Series D Preferred Shares, par value $0.01 per share, were automatically cancelled and extinguished as of the Effective Date. The limited partnership units in the operating partnership of PREIT Associates, L.P. not owned by the Issuer were also cancelled on the Effective Date.
As of the Effective Date, holders of Common Shares received, or will receive shortly after the Effective Date, their pro rata share of a gift of $10 million in cash. Holders of Common Shares are to receive $0.55624252 per share.
/s/ Lisa M. Most (attorney-in-fact)
2024-04-03