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Wheeler Real Estate Investment Trust Inc | 424B3: Prospectus

SEC announcement ·  Feb 6 21:36
Summary by Futu AI
Wheeler Real Estate Investment Trust, Inc. issued Prospectus Supplement No. 12 on February 6, 2024, as an update to their Prospectus dated September 29, 2023. The supplement pertains to the issuance of up to 101,100,000 shares of common stock. The company also filed a Current Report on Form 8-K detailing the February 2024 redemptions of Series D Preferred Stock. The Board of Directors increased the Excepted Holder Limits for certain investors, allowing them to own more capital stock following the redemptions. The redemption process resulted in the issuance of 13,048,169 shares of unregistered Common Stock to settle a total Redemption Price of approximately $2.8 million. Cumulatively, the company has redeemed 948,631 shares of Series D Preferred Stock and issued 67,042,618 shares of Common Stock in settlement. As of February 5, 2024, Wheeler had 68,023,718 shares of Common Stock and 2,577,240 shares of Series D Preferred Stock outstanding. The next redemption date is scheduled for March 5, 2024, with a deadline for redemption requests set for February 25, 2024.
Wheeler Real Estate Investment Trust, Inc. issued Prospectus Supplement No. 12 on February 6, 2024, as an update to their Prospectus dated September 29, 2023. The supplement pertains to the issuance of up to 101,100,000 shares of common stock. The company also filed a Current Report on Form 8-K detailing the February 2024 redemptions of Series D Preferred Stock. The Board of Directors increased the Excepted Holder Limits for certain investors, allowing them to own more capital stock following the redemptions. The redemption process resulted in the issuance of 13,048,169 shares of unregistered Common Stock to settle a total Redemption Price of approximately $2.8 million. Cumulatively, the company has redeemed 948,631 shares of Series D Preferred Stock and issued 67,042,618 shares of Common Stock in settlement. As of February 5, 2024, Wheeler had 68,023,718 shares of Common Stock and 2,577,240 shares of Series D Preferred Stock outstanding. The next redemption date is scheduled for March 5, 2024, with a deadline for redemption requests set for February 25, 2024.
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