Wheeler Real Estate Investment Trust Inc. reported an adjustment to the conversion price of its 7.00% Subordinated Convertible Notes due 2031 following the August 5, 2024 redemptions of its Series D Cumulative Convertible Preferred Stock. The conversion price was reduced from approximately $14.29 per share to $4.03 per share of common stock, a 45% discount to the lowest conversion price of Series D Preferred Stock at $7.33. This adjustment was made in accordance with the indenture governing the Notes. On the 11th monthly Holder Redemption Date, the company processed 20 redemption requests, redeeming 124,043 shares of Series D Preferred Stock at a price of approximately $38.85 per share. This resulted in the issuance of 657,671 shares of common stock. Cumulatively, Wheeler has redeemed 1,072,674 shares of Series D Preferred Stock to date, issuing approximately 1.2 million shares of common stock post-reverse stock splits. As of August 6, 2024, the company had 1,224,485 shares of common stock and 2,562,873 shares of Series D Preferred Stock outstanding. The next redemption round is scheduled for September 5, 2024, with the deadline for redemption requests set for August 25, 2024.

Wheeler Real Estate Investment Trust Inc. reported an adjustment to the conversion price of its 7.00% Subordinated Convertible Notes due 2031 following the August 5, 2024 redemptions of its Series D Cumulative Convertible Preferred Stock. The conversion price was reduced from approximately $14.29 per share to $4.03 per share of common stock, a 45% discount to the lowest conversion price of Series D Preferred Stock at $7.33. This adjustment was made in accordance with the indenture governing the Notes. On the 11th monthly Holder Redemption Date, the company processed 20 redemption requests, redeeming 124,043 shares of Series D Preferred Stock at a price of approximately $38.85 per share. This resulted in the issuance of 657,671 shares of common stock. Cumulatively, Wheeler has redeemed 1,072,674 shares of Series D Preferred Stock to date, issuing approximately 1.2 million shares of common stock post-reverse stock splits. As of August 6, 2024, the company had 1,224,485 shares of common stock and 2,562,873 shares of Series D Preferred Stock outstanding. The next redemption round is scheduled for September 5, 2024, with the deadline for redemption requests set for August 25, 2024.