SCOTTSDALE, Ariz., April 14, 2026 (GLOBE NEWSWIRE) -- Caliber (NASDAQ:CWD), a diversified real estate and digital asset management platform, today announced continued progress in its corporate debt reduction strategy through the completion of the second round of Noteholder Conversion Program, ("The Program").

The most recent round resulted in the conversion of approximately $1.9 million of unsecured corporate notes into shares of Caliber's Class A common stock in a voluntary conversion program elected by the individual noteholders. In addition, approximately $1.5 million of notes were converted into Series AAA Convertible Preferred Stock ("AAA").

Together, these actions have reduced Caliber's corporate debt by approximately $3.4 million in the current round of the program and approximately $5.3 million in total since October 2025.

Series AAA Convertible Preferred Stock Authorization

As noted in Caliber's recent annual earnings call, the Board of Directors recently authorized the creation of Series AAA Convertible Preferred Stock to facilitate debt reduction by converting short term, unsecured notes to perpetual preferred equity.

The holders of Caliber's unsecured corporate notes have been made an offer to voluntarily convert their notes into AAA, which provides for a 12% annual cumulative preferred stock dividend and is convertible into Caliber Class A Common Shares in three distinct tranches.

The first tranche allows for one third of ...