Wheeler REIT issues 300,000 common shares in preferred stock exchange
WHLR•Common shares issued in preferred stock exchanges
Wheeler Real Estate Investment Trust agreed to issue 575,800 common shares in three exchanges dated Aug. 11, Aug. 13 and Aug. 17.
The shares were issued to unaffiliated holders in exchange for 12,400 shares of Series B Convertible Preferred Stock.
The exchanges also retired 3,100 shares of Series D Cumulative Convertible Preferred Stock.
No cash proceeds were received; the preferred shares exchanged were retired and cancelled.
The issuances relied on the Securities Act Section 3(a)(9) exemption for exchanges with existing securityholders.
