Financing ·
Exchanges 11,000 Series B and 2,750 Series D preferred shares for 517,000 common shares
WHLRWheeler Real Estate Investment Trust, Inc.
Wheeler Real Estate Investment Trust agreed to issue 517,000 shares of common stock to an existing investor in exchange for the retirement and cancellation of 11,000 shares of Series B Preferred Stock and 2,750 shares of Series D Cumulative Convertible Preferred Stock. The conversion ratio was set at four common shares for each share of Series B preferred and 188 common shares for each share of Series D preferred. No cash proceeds were received by the company, which relied on Section 3(a)(9) of the Securities Act for the unregistered exchange. Wheeler Real Estate Investment Trust operates in the real estate sector, owning and managing a portfolio of commercial properties.