Wheeler Real Estate Announces 1-for-5 Reverse Stock Split
Wheeler Real Estate Investment Trust, Inc. announced a one-for-five reverse stock split of its common stock, effective July 27, 2026. Stockholders will receive cash in lieu of fractional shares. The common stock will begin trading on a split-adjusted basis on July 28, 2026, under a new CUSIP number. The split will reduce outstanding shares from approximately 4.65 million to 0.93 million and will proportionally adjust the conversion rates and prices of the company's convertible notes and preferred stock.
Key Highlights
- One-for-five reverse stock split of common stock to be effective July 27, 2026.
- Cash payment will be issued in lieu of fractional shares based on closing price.
- Common Stock will trade on a split-adjusted basis from July 28, 2026, under new CUSIP 963025747.
- Pre-split outstanding shares were 4,646,083, anticipated post-split shares are approximately 929,217.
- Conversion rate for 7.00% subordinated convertible notes reduced from 37.33 to 7.47 shares per $25.00 principal.
- Series B Convertible Preferred Stock conversion price increased from $14,515,200,000 to $72,576,000,000.
- Series D Cumulative Convertible Preferred Stock conversion price increased from $6,154,444,800 to $30,772,224,000.
Price Impact
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