Wheeler Real Estate Investment Trust Inc. completed a transaction on July 21, 2025, issuing 120,000 shares of its common stock to an unaffiliated investor. This exchange involved trading eight shares of common stock for each share of 15,000 Series D Cumulative Convertible Preferred Stock and 15,000 Series B Convertible Preferred Stock. The company did not receive cash proceeds from this transaction, and the preferred shares were retired and cancelled. The transaction was conducted under the exemption from registration requirements of the Securities Act of 1933.
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