Recent Updates — WHLR
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.
Between October 6 and October 9, 2026, Wheeler Real Estate Investment Trust issued approximately 2.65 million shares of common stock to unaffiliated holders in exchange for the retirement and cancellation of roughly 142,000 shares of Series B and Series D preferred stock. The transactions were executed without cash proceeds under Section 3(a)(9) of the Securities Act as exchanges with existing securityholders. Wheeler Real Estate Investment Trust operates in the real estate investment trust sector.
Wheeler Real Estate Investment Trust entered into a Note Purchase Agreement with an unaffiliated investor, establishing terms for the issuance of promissory notes. The company may issue additional notes in $1 million denominations, reaching a maximum aggregate principal amount of $25 million. These 7% subordinated convertible notes mature in 18 months and bear no interest; instead, they amortize daily via shares of common stock valued at the prior day's closing price, with cash payments if specific conditions are not met. Closing is contingent on stockholder approval for potential share issuance exceeding 19.99% of outstanding common stock and SEC registration effectiveness. Wheeler Real Estate Investment Trust operates in the real estate investment trust sector, focusing on acquiring and managing multifamily residential properties.
Wheeler Real Estate Investment Trust, Inc. adjusted the conversion price of its 7.00% Subordinated Convertible Notes due 2031 to approximately $2.73 per share following redemptions of Series D Preferred Stock. The adjustment reflects a 45% discount to the $4.96 volume-weighted average closing sales price of common stock for the ten trading days preceding the October 5, 2026 redemption date. Additionally, the company issued approximately 161,700 shares of common stock in exchange for 38,500 shares of Series B and Series D Preferred Stock held by Stilwell Activist Investments, retiring the preferred shares without cash proceeds. Wheeler Real Estate Investment Trust, Inc. is a real estate investment trust that owns and operates multifamily residential properties.
Wheeler Real Estate Investment Trust, Inc. issued common stock to existing security holders in exchange for retired Series B and Series D preferred shares on September 8 and September 23, 2026. The company effected a one-for-nine reverse stock split of its common stock on September 21, 2026. On September 8, the company issued 172 pre-split common shares (approximately 21,022 post-split) to an unaffiliated investor for four Series B and one Series D preferred share. On September 23, it issued 162,244 shares to another investor for 41,061 Series B shares and 566,670 shares to Stilwell Activist Investments affiliates for 58,120 Series B and 14,530 Series D shares. No cash proceeds were received. The company operates in the real estate investment trust industry.