Wheeler Real Estate Investment Trust Inc.
11/06/2024 | Press release | Distributed by Public on 11/06/2024 07:17
Material Event Form 8 K
Item 8.01 Other Events
Results of November 2024 Series D Preferred Stock Redemptions
•The 14th monthly "Holder Redemption Date" occurred on November 5, 2024.
•Wheeler Real Estate Investment Trust, Inc. (the "Company") processed 15 redemption requests from holders of its Series D Cumulative Convertible Preferred Stock (the "Series D Preferred Stock"), collectively redeeming 74,740 shares of Series D Preferred Stock for a redemption price of approximately $39.70 per share ($25.00 per share plus the amount of all accrued but unpaid dividends to and including the November 5, 2024 Holder Redemption Date) (the "Redemption Price").
•The Company settled the aggregate Redemption Price through the issuance of 303,366 shares of it common stock, par value $0.01 ("Common Stock") .
•The volume weighted average of the closing sales price, as reported on the Nasdaq Capital Market, per share of Common Stock for the ten consecutive trading days immediately preceding, but not including, the November 5, 2024 Holder Redemption Date was approximately $9.78.
Cumulative Series D Preferred Stock Redemption Information
•To date, the Company has processed 244 redemption requests, collectively redeeming 1,256,338 shares of Series D Preferred Stock.
•The Company has issued approximately 1,169,000 shares of its Common Stock in settlement of all such redemption requests in the aggregate.
•As of November 6, 2024, the Company had 1,294,310 shares of Common Stock and 2,357,209 shares of Series D Preferred Stock outstanding.
December 2024 Redemptions
•The deadline for the next monthly round of Series D Preferred Stock redemptions is November 25, 2024.
•The next monthly Holder Redemption Date will occur on December 5, 2024.
•Required redemption forms and a list of frequently asked questions can each be found on the Company's website at https://ir.whlr.us/series-d/series-d-redemption.
Information contained on the Company's website is not incorporated by reference into this Current Report on Form 8-K and should not be considered to be part of this Current Report on Form 8-K.