Wheeler Real Estate Investment Trust, Inc. announced a one-for-six reverse stock split of its common stock, set to take effect on June 18, 2024. 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 decrease in par value from $0.06 to $0.01 per share. Stockholders will not receive fractional shares but will instead be compensated with a cash payment based on the closing price of the stock on the effective date. The reverse stock split will proportionally adjust the outstanding shares of common stock and partnership units, convertible securities, preferred stock, and incentive plans. The common stock will trade on a split-adjusted basis under a new...Show More

Wheeler Real Estate Investment Trust, Inc. announced a one-for-six reverse stock split of its common stock, set to take effect on June 18, 2024. 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 decrease in par value from $0.06 to $0.01 per share. Stockholders will not receive fractional shares but will instead be compensated with a cash payment based on the closing price of the stock on the effective date. The reverse stock split will proportionally adjust the outstanding shares of common stock and partnership units, convertible securities, preferred stock, and incentive plans. The common stock will trade on a split-adjusted basis under a new CUSIP number starting June 20, 2024. The company's trading symbol will remain unchanged. The reverse stock split is not expected to affect any stockholder's relative ownership percentage significantly, except for minor changes due to the cash payment for fractional shares. The company has also made forward-looking statements regarding the potential impact of the reverse stock split on the trading price of the common stock.