Summary by Futu AI
Wheeler Real Estate Investment Trust Inc. has issued Prospectus Supplement No. 11, filed on January 8, 2024, to its Prospectus dated September 29, 2023, regarding the issuance of up to 101,100,000 shares of common stock. The company has also filed a Current Report on Form 8-K, detailing the results of the January 2024 Series D Preferred Stock redemptions and adjustments to the conversion price of its 7.00% Subordinated Convertible Notes due 2031. On January 5, 2024, Wheeler processed redemption requests from two Series D Preferred Holders, resulting in the issuance of 1,205,762 shares of common stock to settle the redemption price of approximately $370,000. The company plans to continue issuing unregistered common stock for monthly redemption requests until a sufficient number of shares are registered. To date, Wheeler has redeemed 873,913 shares of Series D Preferred Stock, issuing over 53 million shares of common stock in settlement. As of January 5, the company had over 54 million shares of common stock and approximately 2.65 million shares of Series D Preferred Stock outstanding. The next redemption deadline is set for January 25, 2024, with the Holder Redemption Date on February 5, 2024.