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SCHEDULE 13D Filed 2026-06-25 Event 2026-06-17 SEC 0001193125-26-282228 →

Helix Partners Management LP Office Properties Income Trust OPI

Stake: 25.30% Shares: 5,565,017 CUSIP: 67623C307 Class: Common Shares of Beneficial Interest

Item 4 — Purpose of Transaction

The response to Item 3 of this Schedule 13D is incorporated by reference herein. The Reporting Persons acquired the Secured Exit Notes, the Common Shares, and the Warrants in connection with the Issuer's emergence from bankruptcy on the Effective Date. On the Effective Date, the Issuer adopted its Fourth Amended and Restated Bylaws, which provides that the Board of Trustees (the "Board") of the Issuer shall include up to three Trustees who are initially designated for appointment to the Board by Helix Partners, with such designation right consisting of (a) up to three Trustees so long as Helix Partners and its affiliates beneficially own 15% or more of the outstanding Common Shares of the Issuer, (b) up to two Trustees so long as Helix Partners and its affiliates beneficially own 10% or more of the outstanding Common Shares of the Issuer and (c) up to one Trustee so long as Helix Partners and its affiliates beneficially own 5% or more of the outstanding Common Shares of the Issuer. Pursuant to the Fourth Amended and Restated Bylaws, Mr. Heller was appointed to the Board, as designated by Helix Partners, and Mr. Heller was also named the Chairman of the Board, effective as of the Effective Date. Helix Partners did not initially designate other Trustees for appointment as of the Effective Date. In addition, as of the Effective Date, the Issuer entered into a board observation rights agreement with Helix Partners (the "Board Observation Rights Agreement"), which provides that Helix Partners is entitled to appoint one non-voting Board Observer so long as Helix Partners beneficially owns 15% or more of the outstanding Common Shares of the Issuer. Pursuant to the Board Observation Rights Agreement, Helix Partners appointed Jonathan Wietschner as its Board Observer, effective as of the Effective Date. The foregoing description of the Board Observation Rights Agreement is qualified in its entirety by reference to the full text of the Board Observation Rights Agreement, which is attached hereto as Exhibit 99.2 and incorporated herein by reference. Further, as of the Effective Date, the Issuer and CSC Delaware Trust Company, as warrant agent, entered into a warrant agreement (the "Warrant Agreement"), pursuant to which the Issuer issued the Warrants in accordance with the Plan, pursuant to which Helix Strategic Fund II has the right, until June 17, 2033, to purchase up to 13,314 Common Shares at an initial exercise price of $25.00 per share, subject to customary anti-dilution and other adjustments in accordance with the terms of the Warrant Agreement. The foregoing description of the Warrant Agreement is qualified in its entirety by reference to the full text of the Warrant Agreement, which is incorporated herein by reference to Exhibit 4.3 of the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on June 23, 2026. As the Chairman of the Board, Mr. Heller is continually involved in influencing and considering the strategy and operations of the Issuer. In such capacity, Mr. Heller is involved in all significant aspects of the Issuer, including the Issuer's business, operations, management, ownership, capital and corporate structure, dividend policy, corporate governance, board composition, incentive programs and transactions as a means of enhancing shareholder value, including share repurchases and strategic and other corporate transactions. Moreover, as a result of their ownership interest in the Issuer, the Reporting Persons exercise significant influence over the Issuer's business practices and strategy and all matters requiring action by the Issuer's shareholders, including the election of the Board of the Issuer and the ability as shareholders to approve or reject strategic or other corporate transactions. In connection with strategic or other corporate transactions, Mr. Heller, together with the other Reporting Persons, have in the past engaged and expect to continue to engage in discussions with, and may exchange information with, potential strategic partners, acquirers/co-acquirers, investment professionals and potential financing sources, may participate in any related transaction as principal and/or as a provider of financing and may enter into agreements with respect to the foregoing. Mr. Heller, together with the other Reporting Persons, have in the past considered and may in the future consider a wide variety of matters and plans or proposals that could result in the occurrence of any of the matters set forth in clauses (a)-(j) of Item 4 of Schedule 13D. The Reporting Persons review their investment in the Issuer on a continuing basis. Depending on various factors, including, without limitation, the Issuer's financial position, results of operations, price levels of the Common Shares, conditions in the securities market and general economic and industry conditions, the Reporting Persons may in the future take or propose to take such actions with respect to their investme

Cross-References

Insider Activity (last 365d)
1 transaction
0 buys · 1 sales · 0 awards/exercises
Issuer Cluster
4 13D/G filings on this issuer
3 other filings besides this one
Filer Track Record
1 filings by this filer
0 other filings in the data moat
Short Interest · settle 2026-07-15
DTC 1.00
145,099 shares short · +1743.2% vs prior

Post-Filing Returns · since 2026-06-17 on OPI

+1 day
0.0%
+5 days
0.0%
+30 days
+7.5%
+60 days
+90 days
+180 days

Anchor price 16.75 on closest trading day on/after 2026-06-17. Source: Yahoo Finance daily adj_close (split + dividend adjusted).

Form 4 Insider Transactions · last 365d

DateInsiderRoleTypeSharesPriceValue
2026-08-06 REDWOOD CAPITAL MANAGEMENT, LLC 10%+ owner Sale 162,254 $19.71 $3.20M

Other 13D/G Filings on Office Properties Income Trust

FiledFormFilerStakeShares
2026-07-24 SCHEDULE 13D/A REDWOOD CAPITAL MANAGEMENT, LLC 19.70% 4,327,521 view →
2026-07-10 SCHEDULE 13G LIBERTY MUTUAL HOLDING Co INC. view →
2026-06-25 SCHEDULE 13D REDWOOD CAPITAL MANAGEMENT, LLC 19.70% 4,324,000 view →

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