Wheeler REIT Converts Series D Preferred Stock, Adjusts Note Conversion Price
Wheeler Real Estate Investment Trust, Inc. announced a material modification to the rights of its security holders, specifically adjusting the conversion price of its 7.00% Subordinated Convertible Notes due 2031 to approximately $0.59 per share. This adjustment is a result of the conversion price of its Series D Cumulative Convertible Preferred Stock during November redemptions, which was approximately $1.07 per share. The company processed three redemption requests for Series D Preferred Stock, totaling 1,903 shares, settled by issuing 74,374 shares of its Common Stock. As of November 5, 2026, the company had 1,862,906 shares of Common Stock and 1,723,288 shares of Series D Preferred Stock outstanding.
Key Highlights
- Wheeler Real Estate Investment Trust's 7.00% Subordinated Convertible Notes due 2031 conversion price adjusted to $0.59 per share, a 45% discount.
- Series D Preferred Stock redemptions settled by issuing 74,374 shares of Common Stock.
- The lowest conversion price for Series D Preferred Stock in November was approximately $1.07 per share.
- 38th monthly Series D Preferred Stock redemption processed on November 5, 2026.
- 1,903 shares of Series D Preferred Stock redeemed for approximately $41.80 per share.
- As of November 5, 2026, 1,862,906 shares of Common Stock and 1,723,288 shares of Series D Preferred Stock were outstanding.
Price Impact
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