Material Agreement, Financial Obligation, Private Placement (Form 8-K)

Item 1.01 Entry into a Material Definitive Agreement.

CaliberCos Inc., a Delaware corporation (the "Company") has agreed with certain holders (the "Note Holders") of outstanding unsecured subordinated promissory notes (the "Prior Notes") to exchange the Prior Notes for 10% OID notes bearing interest at 12% per annum with a three year maturity date in the aggregate original principal amount of $7,201,026.67 , (the "Notes"), and five year warrants to initially acquire up to an aggregate of 1,466,923 additional shares of Class A common stock, par value $0.001 (the "Common Stock"), (the "Warrants") at an exercise price of $1.00 per share ("Warrant Share"). As additional consideration for the Note Holders' exchange of Prior Notes, the Company issued to the Note Holders an aggregate of 146,689 shares of Common Stock (the "Commitment Shares"). The Company has agreed to file a registration statement to register the common stock underlying the Warrants and the Commitment Shares.

The foregoing summary of the Notes and Warrants are qualified by reference to the form of such documents, copies of which are filed as exhibits 4.2 and 4.3, respectively, to this report and incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 this Current Report on Form 8-K is incorporated herein by reference.

Item 3.02 Unregistered Sales of Equity Securities

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein. Based in part upon the representations of the Note Holders to the Company, including that they are an "accredited investor" as defined under Rule 501(a) of Regulation D, the shares of Common Stock issuable under the Purchase Agreement, upon conversion of the Notes or upon exercise of the Warrant, will be exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended.