Summary by Futu AI
Wheeler Real Estate Investment Trust Inc. has issued Prospectus Supplement No. 22, updating its previous prospectus dated September 29, 2023. The supplement, dated June 6, 2024, pertains to the potential issuance of up to 101,100,000 shares of common stock. The company has also filed a Current Report on Form 8-K, revealing that no redemption requests were received for its Series D Cumulative Convertible Preferred Stock on the ninth monthly Holder Redemption Date, which occurred on June 5, 2024. To date, Wheeler has processed 182 redemption requests, resulting in the redemption of 948,631 shares of Series D Preferred Stock and the issuance of approximately 2.8 million shares of common stock, adjusted post a one-for-24 reverse stock split on May 16, 2024. The total redemption price settled amounts to approximately $35.9 million. As of June 6, 2024, the company has 2,834,237 shares of common stock and 2,577,240 shares of Series D Preferred Stock outstanding. The next deadline for Series D Preferred Stock redemptions is set for June 25, 2024, with the subsequent Holder Redemption Date scheduled for July 5, 2024.