Summary by Futu AI
Wheeler Real Estate Investment Trust, Inc. (Wheeler REIT) has announced the registration of up to 20,704,217 shares of common stock, which are issuable upon the redemption or conversion of Series D Cumulative Convertible Preferred Stock. The shares are being registered under a Form S-11 filed with the Securities and Exchange Commission (SEC) on July 1, 2024. The registration allows for the potential future sale of these shares by the company, although no specific sale date has been announced. The registration statement includes details on the terms of the redemption or conversion, the company's financial statements, legal matters, and tax considerations for both U.S. and non-U.S. holders. Wheeler REIT has elected to be taxed as a Real Estate Investment Trust (REIT) and has been operating in compliance with the necessary regulations to maintain this status. The company's portfolio primarily consists of grocery-anchored retail centers located in secondary and tertiary markets. Wheeler REIT's common stock is listed on the Nasdaq Capital Market under the symbol 'WHLR'.