CaliberCos Inc.
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $5.3M
- Price
- $0.5068
- % Change (Daily % change from the live per-ticker quote feed.)
- -2.12%
- Volume
- 222.2K
About
CaliberCos Inc., established in 2009 and headquartered in Scottsdale, Arizona, functions as a real estate investment and asset management firm with a specific focus on middle-market assets. The company caters to a sophisticated client base, including high-net-worth, accredited, and qualified investors, family offices, and smaller institutions, by offering a comprehensive range of alternative investment solutions. Through its dedicated in-house asset services group, CaliberCos develops, oversees, and maintains proprietary investment vehicles such as middle-market funds, private syndications, and direct investments. Its core investment strategy targets commercial real estate, Qualified Opportunity Zones (QOZs), private equity ventures, and various debt facilities.
Quick stats
Shares outstanding10.4M
Computed float8.0M
Float / shares76.9%
Key info
SectorFinancial Services
IndustryAsset Management
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001627282
Websitehttps://www.caliberco.com
AI Summary
AI-generated1/20
standardbullishdebt offering
Caliber Completes $3.4 Million Refinance of Corporate Notes and Secures the Right to Retire an Additional $9.1 Million at a Discount
Caliber (Nasdaq: CWD) has completed the refinancing of approximately $3.4 million of its corporate promissory notes and secured six-month rights to retire an additional approximately $9.1 million of notes in full for approximately $7.3 million in cash, or 80% of unreturned capital. Together the moves address roughly $12.5 million of notes, including about 54% of the $21.1 million of unsecured corporate and convertible notes the company disclosed as maturing within twelve months.
Approximately $2.9 million of principal was exchanged for new five-year amortizing notes bearing 6.0% interest, down from a roughly 11.5% weighted average, and about $0.6 million was converted into perpetual Series AAA Convertible Preferred Stock. The completed steps remove approximately $0.2 million of annual interest expense, rising to about $1.3 million per year if the discounted payoff is exercised in full, which would also produce an expected gain of approximately $1.8 million.
Caliber has not yet raised all of the cash required to exercise the payoff right. Expected funding sources include asset-level realizations, roughly $38 million of capital invested alongside investors, and an estimated $95.7 million of carried interest that the company says may never be realized, and any equity-based funding would dilute existing holders.
CEO Chris Loeffler said the program should leave all corporate notes repaid or refinanced into long-dated maturities, which management believes will strengthen the balance sheet and make Caliber more attractive as a real estate asset manager.
Red flags
- Caliber has not yet raised all of the cash required to exercise the $7.3 million discounted payoff; no assurance funding is obtained within the six-month window
- Funding depends on illiquid co-investments and estimated carried interest ($95.7 million) that the company states may never be realized
- Potential stockholder dilution: Series AAA preferred converts into common at $2.50-$4.50, and any equity-based funding of the payoff would be dilutive
- Only ~54% of the $21.1 million of notes maturing within twelve months is addressed; the remainder remains outstanding
- Amortizing structure raises scheduled cash debt service to approximately $0.5 million a year on the exchanged principal