The RealReal Strengthens Capital Structure and Reduces Total Debt Through Add-on Debt Exchange Transactions

Core Insights - The RealReal has entered into strategic debt exchange transactions, converting a portion of its 1.00% Convertible Senior Notes due 2028 into 4.00% Convertible Senior Notes due 2031, reducing total indebtedness by over $6 million and extending maturities to 2031 [1][3] - Following the exchange, approximately $49.5 million of the 2028 Notes will remain outstanding, with the total amount of 4.00% Convertible Senior Notes due 2031 now at $190,079,000 [2] - The company has successfully reduced its total indebtedness by over $86 million since the beginning of 2024, enhancing its balance sheet and flexibility to manage remaining convertible debt [3] Company Overview - The RealReal is the largest online marketplace for authenticated resale luxury goods, boasting over 40 million members and a rigorous authentication process [4] - The company supports the circular economy by providing a platform for buying and selling luxury items across various categories, including fashion, jewelry, and art [4] - The RealReal offers services such as free virtual appointments, in-home pickups, and direct shipping, streamlining the selling process for consignors [4]