Summary by Futu AI
Wheeler Real Estate Investment Trust announced that its Form S-11 registration statement was declared effective by the SEC on July 9, 2024. The registration covers the issuance of up to 20,704,217 shares of common stock for future redemptions and conversions of Series D Cumulative Convertible Preferred Stock.The company plans to begin issuing common stock to settle monthly Series D Preferred Stock redemptions starting with the August 5, 2024 Holder Redemption Date, for redemption requests submitted by July 25, 2024. Additionally, Wheeler updated its Redemption FAQs to reflect the registration effectiveness and clarify the process for holders of unregistered common shares from previous redemptions to remove trading restrictions under Rule 144 conditions.