Sidley Represents Porch Group in Refinancing Transactions

Sidley is representing Porch Group, Inc. (NASDAQ: PRCH), a homeowners insurance and vertical software platform, in connection with two concurrent refinancing transactions that will retire the majority of its 2026 Unsecured Convertible Notes: the repurchase of US$144.3 million aggregate principal amount of its 0.75% Convertible Senior Notes due 2026 and the pricing of a private offering of US$134 million aggregate principal amount of newly issued 9.00% Convertible Senior Unsecured Notes due 2030. These refinancing transactions are expected to close in May 2025, subject to customary closing conditions, and will reduce the company’s 2026 debt maturity from US$174 million to US$29 million.

The Sidley team is being led by Mike Heinz (Capital Markets) and Jocelyne Kelly (M&A), and includes Joshua DuClos (Private Equity); Liz Tabas Carson (Global Finance); and Rob Mandell, Kunchok Yaklha, and Gavin Tan (Capital Markets).