Caliber (Nasdaq: CWD) launched a Noteholder Conversion Program on Oct 31, 2025 authorizing voluntary conversion of certain unsecured notes into Class A common stock in tranches up to $3.0 million each. Caliber completed the first tranche converting $1.9 million of principal at an average interest rate of 11.1%, issuing ~561,850 shares at an average conversion price of $3.43 per share. Management says the move eliminates ~$211,090 of annual interest expense, strengthens the balance sheet, reduces leverage, and aims to improve cash flow as the company targets profitability in 2026.
Caliber (Nasdaq: CWD) ha lanciato il Noteholder Conversion Program il 31 ottobre 2025 autorizzando la conversione volontaria di alcune note non garantite in azioni ordinarie di classe A in tranches fino a $3.0 million ciascuna. Caliber ha completato la prima tranche convertendo $1.9 million di capitale a un tasso di interesse medio del 11.1%, emettendo circa 561,850 azioni a un prezzo di conversione medio di $3.43 per azione. La direzione afferma che la mossa elimina circa $211,090 di oneri finanziari annuali, rafforza il bilancio, riduce la leva finanziaria e mira a migliorare la liquidità mentre l'azienda punta a una redditività nel 2026.
Caliber (Nasdaq: CWD) lanzó un Programa de Conversión para tenedores de notas el 31 de octubre de 2025, autorizando la conversión voluntaria de ciertas notas no garantizadas en acciones ordinarias clase A en tramos de hasta $3.0 millones cada uno. Caliber completó el primer tramo convirtiendo $1.9 millones de principal a una tasa de interés promedio de 11.1%, emitiendo ~561,850 acciones a un precio de conversión promedio de $3.43 por acción. La dirección dice que esta medida elimina ~ $211,090 de gasto por intereses anual, fortalece el balance, reduce el apalancamiento y busca mejorar el flujo de caja mientras la empresa apunta a rentabilidad en 2026.
Caliber (Nasdaq: CWD) 는 2025년 10월 31일에 일부 무담보 어음을 현금으로 전환하는 자발적 전환 프로그램을 시작하여 Class A 일반주로 분할 전환하는 것을 허용했습니다. 각 트랜치당 최대 $3.0 million까지였습니다. Caliber 는 첫 번째 트랜치를 완료하고 원금 $1.9 million을 평균 이자율 11.1%로 전환했으며, 평균 전환가 $3.43당 약 561,850주를 발행했습니다. 경영진은 이 조치가 연간 이자비용을 약 $211,090 줄이고 대차대조표를 강화하며 레버리지를 줄이고 2026년 수익성 목표를 달성하기 위한 현금 흐름 개선을 목표로 한다고 말합니다.
Caliber (Nasdaq: CWD) a lancé le Noteholder Conversion Program le 31 octobre 2025, autorisant la conversion volontaire de certaines obligations non garanties en actions ordinaires de classe A par tranches allant jusqu'à $3,0 millions chacune. Caliber a achevé la première tranche en convertissant $1,9 million de principal à un taux d'intérêt moyen de 11,1%, émettant environ 561 850 actions à un prix de conversion moyen de $3,43 par action. La direction affirme que cette mesure élimine environ $211 090 de frais d'intérêts annuels, renforce le bilan, réduit l'endettement et vise à améliorer la trésorerie alors que l'entreprise vise la rentabilité en 2026.
Caliber (Nasdaq: CWD) hat am 31. Oktober 2025 ein Noteholder Conversion Program gestartet, das die freiwillige Umwandlung bestimmter unbesicherter Anleihen in Class-A-Stammaktien in Tranchen von jeweils bis zu $3,0 Millionen zulässt. Caliber hat die erste Tranche abgeschlossen, indem $1,9 Millionen des Nennwerts zu einem durchschnittlichen Zinssatz von 11,1% umgewandelt wurden, und ca. 561.850 Aktien zu einem durchschnittlichen Umwandlungspreis von $3,43 pro Aktie ausgegeben wurden. Aus der Verwaltung heißt es, dass der Schritt etwa $211,090 an jährlichen Zinsaufwendungen eliminiert, die Bilanz stärkt, die Verschuldung reduziert und darauf abzielt, den Cashflow zu verbessern, während das Unternehmen 2026 Rentabilität anstrebt.
أطلقت Caliber (ناسداك: CWD) برنامج تحويل حاملي المذكرة في 31 أكتوبر 2025 مما يسمح بالتحويل التطوعي لبعض السندات غير المضمونة إلى أسهم عادية من الفئة A على دفعات تصل إلى $3.0 مليون لكل دفعة. أتمت Caliber أول دفعة بتحويل $1.9 مليون من رأس المال إلى معدل فائدة متوسط قدره 11.1%، مع إصدار نحو 561,850 سهماً بسعر تحويل متوسط قدره $3.43 للسهم. وتقول الإدارة إن الخطوة تُزيل نحو $211,090 من مصروف الفوائد السنوي، تقوّي الميزانية، تقلّل الرفع المالي، وتهدف إلى تحسين التدفق النقدي مع استهداف الشركة للربحية في 2026.
Positive
$1.9M principal converted in first tranche
Annual interest expense reduced by $211,090
Issued ~561,850 shares at $3.43 average conversion price
Program allows up to $3.0M convertible notes per tranche to reduce leverage
Negative
Conversion issued ~561,850 new shares, causing shareholder dilution
Program structure permits additional tranches up to $3.0M, which may further dilute equity
Insights
Caliber converts high-cost notes into equity, trimming interest and boosting equity ahead of a 2026 profitability goal.
Caliber approved a voluntary Noteholder Conversion Program allowing holders of certain unsecured notes to convert in tranches up to $3.0 million each; the company completed a first $1.9 million tranche, converting notes with an average interest rate of 11.1% into approximately 561,850 shares at an average conversion price of $3.43. The conversion eliminates about $211,090 of annual interest expense and increases stockholders’ equity while preserving cash flow.
The business mechanism is straightforward: reduce leverage by converting debt to equity, which lowers recurring interest cash outflows and raises book equity. This action directly improves reported leverage ratios and cash available for operations or growth. The benefits depend on voluntary noteholder participation and conversion prices set under Nasdaq market rules; the company disclosed tranche limits of $3.0 million, so scale depends on future tranche uptake.
Key risks and dependencies include the extent of future participation and dilution from additional conversions; the press release gives no timetable for further tranches beyond the first $1.9 million. Monitor three concrete items: (1) participation in subsequent tranches up to $3.0 million each, (2) any updated conversion prices or dilution metrics when tranches occur, and (3) progress toward the stated profitability target in 2026. Expect near-term balance-sheet and interest-expense effects to be visible immediately; watch tranche activity and profitability updates over the next 6–18 months.
Initiative reduces corporate debt and improves cash flow
SCOTTSDALE, Ariz., Oct. 31, 2025 (GLOBE NEWSWIRE) -- Caliber (Nasdaq: CWD), a diversified real estate and digital asset management platform, today announced that its Board of Directors has approved a Noteholder Conversion Program (the “Program”) authorizing the ability of holders of certain of Caliber’s unsecured corporate notes to convert such notes into shares of the Company’s Class A common stock. The Program allows such noteholders to convert notes in tranches, each tranche allowing up to an aggregate of $3.0 million of such notes to be converted. Participation in the Program is entirely voluntary, with conversion prices determined according to Nasdaq’s rules for market transactions. The Program is expected to significantly reduce leverage, improve stockholders’ equity, and increase financial flexibility as Caliber advances toward its goal of profitability in 2026.
In connection with this approval, Caliber also announced the completion of 1.9 million conversion of principal balance notes with an average interest rate of 11.1%, representing approximately 561,850 shares issued at an average conversion price of $3.43 per share. This conversion immediately strengthens the Company’s balance sheet and eliminates approximately $211,090 in annual interest expense while improving cash flow..
“By methodically removing high-cost debt from our balance sheet, we are reducing interest expense and freeing up cash flow for growth,” Loeffler added. “This program represents an important next step in fortifying Caliber’s foundation as we execute on our dual strategies: expanding our private equity real estate platform and building one of the largest LINK token treasuries held by a public company.”
DISCLAIMER
This press release does not constitute an offer or solicitation to sell shares or securities in the Company or any related or associated entity.
Any such offer or solicitation will be made solely through investment documentation, in strict accordance with the terms of all applicable securities laws and regulations.
About Caliber (CaliberCos Inc.)
Caliber (Nasdaq: CWD) is an alternative asset manager with over $2.9 billion in Managed Assets and a 16-year track record in private equity real estate investing across hospitality, multi-family, and industrial real estate. In 2025, Caliber became the first U.S. public real estate platform to launch a Digital Asset Treasury strategy anchored in LINK, the token associated with Chainlink. This initiative bridges real and digital asset investing through an equity-funded, disciplined approach that includes staking for yield. Investors can participate via Caliber’s publicly traded equity (Nasdaq: CWD) and private real estate funds.
Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the Company’s public offering filed with the SEC and other reports filed with the SEC thereafter. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
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