---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-105047"
form_type: "8-K"
ticker: "CWD"
cik: "0001627282"
company_name: "CaliberCos Inc."
filed_at: "2025-11-03T23:59:59+00:00"
generated_at: "2026-05-17T00:53:42.722263+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-105047
- form_type: 8-K
- ticker: CWD
- cik: 0001627282
- company_name: CaliberCos Inc.
- filed_at: 2025-11-03T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1627282/000110465925105047/0001104659-25-105047-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1627282/000110465925105047/tm2529978d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-105047
- JSON: https://secwatch.observer/filing/0001104659-25-105047.json
- Plain text: https://secwatch.observer/filing/0001104659-25-105047.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.