Wheeler REIT Redeems Preferred Shares; Issues Common Stock

Wheeler Real Estate Investment Trust Inc (WHLR) has released an update.

In February 2024, the company addressed the redemption of nearly 75,000 Series D Preferred Shares at a price of about $37.83 per share, totaling around $2.8 million. This was settled through the issuance of over 13 million shares of Common Stock. To date, the company has redeemed close to a million Series D Preferred Shares for approximately $35.9 million, resulting in the issuance of over 67 million Common Stock shares. With nearly 68 million Common Stock and over 2.5 million Series D Preferred Stock shares outstanding, the next redemption is scheduled for March 5, with preparations underway.

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For a comprehensive understanding of the announcement, you can read the full document here.