RealReal reduces total debt via add-on debt exchange transactions

The RealReal (REAL) announced its entry into additional strategic debt exchange transactions with certain holders of its 1.00% Convertible Senior Notes due 2028 for additional 4.00% Convertible Senior Notes due 2031, reducing its total indebtedness by over $6 million and extending a significant portion of its remaining 2028 maturities to 2031. Following the exchange of approximately $49.5 million aggregate principal amount of the 2028 Notes in connection with these transactions, less than $50.0 million aggregate principal amount of the 2028 Notes will remain outstanding. The Additional Notes, together with the $146,685,000 of 4.00% Convertible Senior Notes due 2031 previously issued by the Company on February 10, 2025, will form a single class of $190,079,000 aggregate principal amount of 4.00% Convertible Senior Notes due 2031. These private, separately negotiated debt exchange transactions will be conducted in transactions exempt from registration under the Securities Act of 1933, as amended.