Wheeler REIT issues 177,600 shares in preferred stock exchange transactions

Wheeler Real Estate Investment Trust agreed to issue 177,600 common shares in two unregistered exchanges with unaffiliated securityholders.

• August 5 deal: 100,100 common shares issued for 2,800 shares of Series B Convertible Preferred Stock and 700 shares of Series D Cumulative Convertible Preferred Stock.
• August 7 deal: 77,500 common shares issued for 2,000 shares of Series B Convertible Preferred Stock and 500 shares of Series D Cumulative Convertible Preferred Stock.
• No cash proceeds were received; the exchanged preferred shares were retired and canceled.
• The issuances relied on Securities Act Section 3(a)(9) exemption for exchanges with existing holders.