Wheeler Real Estate Investment Trust Inc. (Wheeler REIT) filed a Current Report on Form 8-K with the SEC on February 5, 2024, detailing several key corporate events. The report included the completion of the February 2024 Series D Preferred Stock redemptions, where Wheeler REIT processed redemption requests from five Series D Preferred Holders, redeeming 74,718 shares at approximately $37.83 per share. The company settled the redemptions in Common Stock, issuing 13,048,169 unregistered shares. This brings the total redemptions to date to 948,631 shares of Series D Preferred Stock, with the company issuing 67,042,618 shares of Common Stock in settlement of approximately $35.9 million. As a result, Wheeler REIT has 68,023,718 shares of Common Stock and 2,577,240 shares of Series D Preferred Stock outstanding as of February 5, 2024. Additionally, the Board of Directors...Show More

Wheeler Real Estate Investment Trust Inc. (Wheeler REIT) filed a Current Report on Form 8-K with the SEC on February 5, 2024, detailing several key corporate events. The report included the completion of the February 2024 Series D Preferred Stock redemptions, where Wheeler REIT processed redemption requests from five Series D Preferred Holders, redeeming 74,718 shares at approximately $37.83 per share. The company settled the redemptions in Common Stock, issuing 13,048,169 unregistered shares. This brings the total redemptions to date to 948,631 shares of Series D Preferred Stock, with the company issuing 67,042,618 shares of Common Stock in settlement of approximately $35.9 million. As a result, Wheeler REIT has 68,023,718 shares of Common Stock and 2,577,240 shares of Series D Preferred Stock outstanding as of February 5, 2024. Additionally, the Board of Directors agreed to increase the Capital Stock Excepted Holder Limit to 60% and the Common Stock Excepted Holder Limit to 90% for certain investors, following the transfer of common stock in consideration of the redemptions. The next monthly redemption deadline is set for February 25, 2024, with the Holder Redemption Date on March 5, 2024. The report also noted an adjustment to the conversion price of the company's 7.00% Subordinated Convertible Notes due 2031, which was reduced to approximately $0.12 per share of Common Stock, representing a 45% discount to the lowest conversion price of $0.22 for the Series D Preferred Stock.