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Adjusts conversion price of its 7.00% Subordinated Convertible Notes due 2031 to approximately $0.59 per share
WHLRWheeler Real Estate Investment Trust, Inc.
Wheeler Real Estate Investment Trust, Inc. adjusted the conversion price of its 7.00% Subordinated Convertible Notes due 2031 to approximately $0.59 per share following redemptions of Series D Cumulative Convertible Preferred Stock. The adjustment reflects a 45% discount to the common stock's volume-weighted average closing price of $1.07 over the preceding ten trading days. In November, the company redeemed 1,903 shares of preferred stock for approximately $41.80 per share, settling the obligation by issuing 74,374 shares of common stock. The company operates in the real estate investment trust sector.