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

SAN FRANCISCO, Aug. 21, 2025 (GLOBE NEWSWIRE) -- The RealReal (NASDAQ:REAL) (the "Company")—the world's largest online marketplace for authenticated, resale luxury goods—today announced its entry into additional strategic debt exchange transactions with certain holders of its 1.00% Convertible Senior Notes due 2028 (the "2028 Notes") for additional 4.00% Convertible Senior Notes due 2031 (the "Additional Notes"), 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.

Rati Levesque, President and Chief Executive Officer of The RealReal, stated, "We're pleased with the transactions we announced today, which reinforce our commitment to strengthening our balance sheet and reducing our debt. With this debt exchange, we have reduced our total indebtedness by over $86 million since the beginning of 2024 and favorably rebalanced our debt maturity ...