Tips on upgrading

I have a site running Concrete 8.2.1 and PHP 5.6.40. It is on a server that is reaching EOL and needs to be migrated, but the destination servers only support PHP 7.2+. What is a good plan here, since there is no direct upgrade path? Will the site have to be rebuilt in Concrete 9?

This page will give you some guidance on php versions for Concrete 8.2.1