Caliber launches note conversion program; first $1.9M tranche eliminates $211K annual interest

CaliberCos Inc.

Program allows voluntary conversion of unsecured notes into Class A common stock; each tranche capped at $3M.
First tranche converted $1,897,505 principal into 561,747 shares at avg $3.43/sh; avg interest rate 11.1%.
Conversion eliminates ~$211,090 annual interest expense; strengthens balance sheet and reduces leverage.
Management may open additional rounds until all noteholders have participated.
CEO cites increased financial flexibility as Caliber targets profitability in 2026.

item 1.01 item 3.02 item 7.01 item 9.01

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