On February 10, 2025, The RealReal (REAL) consummated private, separately negotiated debt exchange transactions with holders representing in aggregate approximately 65% of its outstanding 2028 Notes, pursuant to which The RealReal will issue approximately $147M principal amount of new 4.00% Convertible Senior Notes due 2031 in exchange for approximately $183M principal amount of its 2028 Notes in transactions exempt from registration under the Securities Act of 1933, as amended, and the rules and regulations thereunder. Certain financial information included in this release was provided to holders of the 2028 Notes in conjunction with the announcement of the Exchange Transactions. As a result of the Exchange Transactions, the Company reduced its total indebtedness by approximately $37M and extended a significant portion of its 2028 maturities.
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