TheRealReal, Inc. (REAL): debt financing — RealReal reports preliminary Q4 GMV $503.5M, Adj. EBITDA above guidance; completes debt exchange reducing debt by $37M

TheRealReal, Inc.

2024-FY EPS reported -$1.24 revenue$600,484,000

Preliminary Q4 GMV $503.5M (guidance $484-500M), total revenue ~$163.5M, Adj. EBITDA $10.7-11.2M (guidance $6.5-9.5M).
FY2024 GMV $1.829B, Adj. EBITDA $9.0-9.5M (guidance $4.7-7.7M); net loss includes $68M warrant liability charge.
FY2025 guidance: GMV $1.96-1.99B, revenue $645-660M, Adj. EBITDA $20-30M.
Exchanged $183M of 1.00% 2028 notes for $147M of 4.00% 2031 notes, reducing total debt by ~$37M and extending maturities to 2031.

item 1.01 item 2.02 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

TheRealReal, Inc. incurred convertible notes of $146,685,000 in aggregate principal amount of the Company's 4.00% Convertible Senior Notes due 2031 (the "New Notes") with Certain Noteholder Parties at 4.00% per annum, payable semi-annually in arrears on February 15 and August 15 o maturing February 15, 2031.

Instrument: convertible notes
Principal: $146,685,000 in aggregate principal amount of the Company's 4.00% Convertible Senior Notes due 2031 (the "New Notes")
Counterparty: Certain Noteholder Parties
Rate: 4.00% per annum, payable semi-annually in arrears on February 15 and August 15 o
Maturity: February 15, 2031
Event: incurrence

Exact text from the filing

The New Notes accrue interest at a rate of 4.00% per annum, payable semi-annually in arrears on February 15 and August 15 of each year, beginning on August 15, 2025; provided that, solely with respect to the interest payment due on August 15, 2025, the New Notes shall bear additional interest at the rate of 1.25% per year from September 1, 2024 to, but excluding, the Effective Date, being paid in consideration for the accrued and unpaid interest on the Exchanged Notes.

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TheRealReal, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-023641

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