Preferred converts to common stock at $250 per Caliber share
SCOTTSDALE, Ariz., Sept. 17, 2025 (GLOBE NEWSWIRE) -- Caliber (NASDAQ:CWD), a diversified real estate and digital asset management platform, today announced that it has closed a securities purchase agreement with an institutional investor for the sale of $15.9 million of perpetual convertible preferred equity and, separately, has established and activated an At-The-Market (ATM) equity program.
Under the preferred investment, Caliber issued 15,868 shares of Series B Preferred Stock at a purchase price of $1,000 per share, resulting in gross proceeds of $15,868,000. The Series B Preferred Stock is convertible, at the holder's option, into Caliber common shares at $250 per share. The security carries no voting rights, pays no dividends or interest, and is ranked senior to Caliber's Class A and Class B common stock, but junior to the Company's Series A and Series AA Preferred Stock.
The Company also announced that it has filed a prospectus supplement with the U.S. Securities and Exchange Commission ("SEC") to activate an ATM program further to which sales are to be made further to the Company's existing $50 million shelf registration statement. At the outset, the Company has approximately $10.3 million of availability under the program. ...
