Phoenix Energy One launches $100M subordinated note offering at 6-7% with holder put rights

Filed July 8, 2026 · Period ending July 7, 2026 · ~1 min read

Key Changes

• high

  Registered offering of up to $100M in 10-year subordinated notes at 6-7% annual interest, issued continuously under Rule 415 shelf registration declared effective July 7, 2026.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  Notes are junior to existing Fortress credit facility and other senior debt; secured by property mortgages but those liens rank behind Fortress, limiting recovery in distress.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• medium

  Holders can put notes back to the company at par plus accrued interest on scheduled dates (every 3-18 months depending on note type) with 30-45 days' notice, creating refinancing risk.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →