RealReal exchanges $49.5M 1% 2028 notes for $43.4M 4% 2031 notes; reduces debt by $6M

TheRealReal, Inc.

Exchanged $49.5M of 1% convertible notes due 2028 for $43.4M of new 4% notes due 2031; no cash proceeds.
Total principal reduction of $6M; less than $50M of 2028 notes remain outstanding.
New notes plus $146.7M previously issued form single class of $190.1M aggregate principal of 4% notes due 2031.
CEO notes total indebtedness reduced by over $86M since start of 2024; extends maturity profile.

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