Summary by Futu AI
Wheeler Real Estate Investment Trust Inc. has announced the abandonment of its previously planned one-for-six reverse stock split, opting instead for a one-for-five reverse stock split. The decision was made following discussions with Nasdaq's listing qualifications staff and was approved by the company's Board of Directors on June 18, 2024. The one-for-five reverse stock split will become effective at 5:00 p.m. Eastern Time on June 27, 2024, with the common stock trading on a split-adjusted basis from the market open on June 28, 2024, under a new CUSIP number. The company filed the necessary amendments with the State Department of Assessments and Taxation of Maryland on June 21, 2024. This reverse stock split will proportionally adjust the outstanding shares...Show More