Office Properties Income Trust (OPI) has filed an 8-K report detailing significant developments in its ongoing Chapter 11 bankruptcy proceedings. The filing includes an amended settlement agreement reached on March 31, 2026, following mediation involving the company and its creditors. This settlement outlines new terms for the repayment of secured notes and introduces a special purpose vehicle (SPV) to manage the debt obligations. The amended terms include an increase in the interest rate on a secured promissory note from 8.125% to 8.375%, and a limited guaranty from the reorganized company capped at $60 million. The settlement aims to address disputes among creditors and facilitate the company's restructuring efforts. Additionally, the filing includes the company's Monthly Operating Report (MOR) for February 2026, which indicates ongoing operational challenges, including a reported loss of approximately $6.5 million for the month. The company continues to operate under the jurisdiction of the Bankruptcy Court, and stakeholders are advised to exercise caution regarding the value of common shares, which may be extinguished upon the confirmation of the bankruptcy plan.

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