Corporate ActionJun 26, 2026, 08:21 AM
Wheeler REIT Exchanges Preferred Stock for 86,583 Common Shares
AI Summary
Wheeler Real Estate Investment Trust, Inc. agreed on June 22, 2026, to issue 86,583 shares of its common stock to an unaffiliated holder. This issuance was in exchange for 16,492 shares of Series B Convertible Preferred Stock and 4,123 shares of Series D Cumulative Convertible Preferred Stock. The company did not receive any cash proceeds, and the exchanged preferred shares have been retired and cancelled. The transaction was conducted under the exemption from registration requirements of Section 3(a)(9) of the Securities Act.
Key Highlights
- Agreed on June 22, 2026, to issue 86,583 shares of common stock.
- Exchanged for 16,492 shares of Series B Convertible Preferred Stock.
- Also exchanged for 4,123 shares of Series D Cumulative Convertible Preferred Stock.
- Transaction involved issuing 21 shares of common stock for 4 Series B and 1 Series D preferred.
- Company did not receive any cash proceeds from this transaction.
- Exchanged preferred shares have been retired and cancelled.
- Common stock issued under Section 3(a)(9) exemption of the Securities Act.
Price Impact
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