Wheeler Real Estate Investment Trust Inc. announced a one-for-two reverse stock split of its common stock, effective November 18, 2024, at 5:00 p.m. Eastern Time. The company filed two Articles of Amendment with the State Department of Assessments and Taxation of Maryland to facilitate the reverse stock split and a corresponding decrease in par value from $0.02 to $0.01 per share, effective one minute later. Stockholders will not receive fractional shares but will be compensated with cash payments based on the closing price of the stock on the Nasdaq Capital Market on the day of the split. The reverse stock split will proportionally adjust the outstanding shares, partnership units, convertible securities, and preferred stock conversion rates. The company's common stock will...Show More

Wheeler Real Estate Investment Trust Inc. announced a one-for-two reverse stock split of its common stock, effective November 18, 2024, at 5:00 p.m. Eastern Time. The company filed two Articles of Amendment with the State Department of Assessments and Taxation of Maryland to facilitate the reverse stock split and a corresponding decrease in par value from $0.02 to $0.01 per share, effective one minute later. Stockholders will not receive fractional shares but will be compensated with cash payments based on the closing price of the stock on the Nasdaq Capital Market on the day of the split. The reverse stock split will proportionally adjust the outstanding shares, partnership units, convertible securities, and preferred stock conversion rates. The company's common stock will trade under a new CUSIP number post-split, but the trading symbol remains unchanged. Adjustments will also be made to the company's incentive plans to reflect the reverse stock split. The company included forward-looking statements regarding the potential impact of the reverse stock split on the company and its stock price, acknowledging the inherent risks and uncertainties.