Wheeler REIT issues 841,628 common shares in preferred stock exchange
WHLR•Preferred stock exchanged for common shares
Wheeler Real Estate Investment Trust agreed to issue 841,628 common shares in exchanges for Series B and Series D preferred stock.
No cash proceeds; the preferred shares exchanged were retired and cancelled.
The deal terms included 581,328 common shares for 23,664 Series B shares and 3,537 Series D shares, agreed Sept. 2.
A separate Sept. 3 exchange issued 260,300 common shares for 7,600 Series B shares and 1,900 Series D shares.
The issuances relied on the Securities Act Section 3(a)(9) exemption for exchanges with existing securityholders.
