Wheeler REIT May Lack Registered Stock for July Redemptions
Wheeler Real Estate Investment Trust, Inc. announced an adjustment to the conversion price of its 7.00% Subordinated Convertible Notes due 2031 to approximately $0.69 per share of Common Stock. The company also processed June 2026 redemptions of 7,700 Series D Preferred Stock shares, settling them with 251,090 shares of Common Stock. However, the company anticipates it may not have enough registered Common Stock to settle July 2026 redemption requests and plans to file a new registration statement, potentially issuing unregistered stock or delaying delivery if not effective.
Key Highlights
- Conversion price for 7.00% Subordinated Convertible Notes due 2031 adjusted to approximately $0.69 per share.
- Wheeler REIT processed 6 redemption requests for 7,700 Series D Preferred Stock shares in June 2026.
- June redemptions were settled by issuing 251,090 shares of Common Stock.
- To date, 1,803,728 Series D Preferred shares have been redeemed, settled with approximately 753,000 Common Stock shares.
- Wheeler REIT anticipates it may not have enough registered Common Stock for July 2026 redemptions.
- Company plans to file a new registration statement; may issue unregistered stock or delay delivery if not effective.
Price Impact
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