Loan & DebtOct 13, 2026, 12:26 PM
Wheeler REIT to Issue Up to $25M in 0% Interest Notes
AI Summary
Wheeler Real Estate Investment Trust, Inc. has entered into a Note Purchase Agreement to issue up to $25 million in Promissory Notes to investors. The Notes will mature in 18 months with 0% interest, and amortization payments will be made through the issuance of Common Stock or cash. The purchase price for these notes will be paid in shares of Series D Cumulative Convertible Preferred Stock. Stockholder approval is a condition for the issuance of more than 19.99% of the Company's outstanding Common Stock.
Key Highlights
- Wheeler Real Estate Investment Trust, Inc. entered into a Note Purchase Agreement to issue up to $25 million in Promissory Notes.
- The Notes will mature in 18 months and bear 0% interest.
- Amortization payments will be made via issuance of Common Stock or cash, at 0.4% of the original principal amount, adjustable between 0.2% and 0.6%.
- The purchase price for the Notes will be paid in shares of Series D Cumulative Convertible Preferred Stock.
- Stockholder approval is required for the issuance of more than 19.99% of outstanding Common Stock.
- The Company has the right to repay the outstanding principal amount of the Notes in cash at any time without penalty.
Price Impact
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