Wheeler REIT Files 8-K on Stock and Debt Changes
Ticker: WHLRL · Form: 8-K · Filed: Jul 8, 2024 · CIK: 1527541
| Field | Detail |
|---|---|
| Company | Wheeler Real Estate Investment Trust, Inc. (WHLRL) |
| Form Type | 8-K |
| Filed Date | Jul 8, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $35.9 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: capital-structure, debt, preferred-stock
Related Tickers: WHLR
TL;DR
Wheeler REIT filed an 8-K detailing changes to its common stock, preferred stock, and debt. Watch for impacts on capital structure.
AI Summary
Wheeler Real Estate Investment Trust, Inc. filed an 8-K on July 8, 2024, reporting events as of July 5, 2024. The filing indicates changes related to common stock, Series B preferred stock, Series D preferred stock, and convertible subordinated debt.
Why It Matters
This filing signals potential adjustments in the company's capital structure, which could impact its financial obligations and shareholder equity.
Risk Assessment
Risk Level: medium — Changes in preferred stock and debt can indicate financial restructuring or new obligations, requiring careful investor scrutiny.
Key Numbers
- 001-35713 — Commission File Number (Identifier for the company's SEC filings)
- 45-2681082 — IRS Employer Identification No. (Company's tax identification number)
Key Players & Entities
- Wheeler Real Estate Investment Trust, Inc. (company) — Registrant
- July 5, 2024 (date) — Earliest event date
- July 8, 2024 (date) — Filing date
- Maryland (jurisdiction) — State of incorporation
- 2529 Virginia Beach Blvd. (address) — Principal executive offices
FAQ
What specific events occurred on July 5, 2024, that necessitated this 8-K filing?
The filing indicates events related to common stock, Series B preferred stock, Series D preferred stock, and convertible subordinated debt, but the exact nature of these events is not detailed in the provided text.
What is the significance of the changes to Series B and Series D preferred stock?
Changes to preferred stock can affect dividend payments, voting rights, and the company's capital structure, but the specific implications are not elaborated in this excerpt.
What are the terms of the convertible subordinated debt mentioned?
The filing notes the existence of convertible subordinated debt as of July 5, 2024, but does not provide details on its terms, interest rates, or maturity dates.
Where are Wheeler Real Estate Investment Trust, Inc.'s principal executive offices located?
The principal executive offices are located at 2529 Virginia Beach Blvd., Virginia Beach, VA 23452.
Under which state was Wheeler Real Estate Investment Trust, Inc. incorporated?
The company was incorporated in Maryland.
Filing Stats: 619 words · 2 min read · ~2 pages · Grade level 11.8 · Accepted 2024-07-08 08:49:14
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share WHLR Nasdaq Capital
- $35.9 million — egate redemption price of approximately $35.9 million. As of July 8, 2024, the Company had 5
Filing Documents
- whlr-20240705.htm (8-K) — 35KB
- 0001527541-24-000131.txt ( ) — 206KB
- whlr-20240705.xsd (EX-101.SCH) — 2KB
- whlr-20240705_def.xml (EX-101.DEF) — 16KB
- whlr-20240705_lab.xml (EX-101.LAB) — 29KB
- whlr-20240705_pre.xml (EX-101.PRE) — 17KB
- whlr-20240705_htm.xml (XML) — 5KB
01 Other Events
Item 8.01 Other Events Results of July 2024 Series D Preferred Stock Redemptions The tenth monthly "Holder Redemption Date" occurred on July 5, 2024. The Company received no redemption requests from any holders of its Series D Cumulative Convertible Preferred Stock (the "Series D Preferred Stock") . Cumulative Series D Preferred Stock Redemption Information (Unchanged from June 2024) To date, the Company has processed 182 redemption requests, collectively redeeming 948,631 shares of Series D Preferred Stock. Accordingly, the Company has issued approximately 560,000 shares of its common stock, par value $0.01 ("Common Stock") (as adjusted for the Company's May 16, 2024 one-for-24 and June 17, 2024 one-for-five reverse stock splits (collectively, the "Reverse Stock Splits")) in settlement of an aggregate redemption price of approximately $35.9 million. As of July 8, 2024, the Company had 566,814 shares of Common Stock (as adjusted for the Reverse Stock Splits) and 2,686,916 shares of Series D Preferred Stock outstanding. August 2024 Redemptions The deadline for the next monthly round of Series D Preferred Stock redemptions is July 25, 2024. The next monthly Holder Redemption Date will occur on August 5, 2024. Required redemption forms and a list of frequently asked questions can each be found on the Company's website at https://ir.whlr.us/series-d/series-d-redemption. Information contained on the Company's website is not incorporated by reference into this Current Report on Form 8-K and should not be considered to be part of this Current Report on Form 8-K.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WHEELER REAL ESTATE INVESTMENT TRUST, INC. By: /s/ M. Andrew Franklin Name: M. Andrew Franklin Title: Chief Executive Officer and President Dated: July 8, 2024