Wheeler Real Estate REIT cuts note conversion price to USD 0.54 per share after preferred-stock redemptions - WHLR News | RalliesWheeler Real Estate REIT cuts note conversion price to USD 0.54 per share after preferred-stock redemptions
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WHLR• Conversion price reset after preferred-stock redemptions
- Wheeler Real Estate Investment Trust reset the conversion price on its 7.00% Subordinated Convertible Notes due 2031 to USD 0.54 per share.
- The adjustment followed Series D preferred redemptions, with the lowest conversion price at USD 0.98, triggering a 45% discount under the indenture.
- The revised terms imply about 46 shares of common stock for each USD 25 of note principal converted.
