Wheeler Real Estate Investment Trust Faces Potential Stock Issuance Challenges
Wheeler Real Estate Investment Trust, a commercial real estate investment trust (REIT), is currently facing potential challenges in issuing stock. The company’s Series D Preferred Stock has been outstanding, with 2,887,273 shares still in circulation.
In recent redemptions, the lowest price at which Series D Preferred Stock was converted into Common Stock was approximately $2.89. However, between that time and the November Redemption Date, the price of the company’s Common Stock fell significantly. For the November redemptions, the lowest conversion price was recorded at around $0.84.
Unfortunately, the decline in the price of Wheeler Real Estate Investment Trust’s Common Stock has persisted since the November Redemption Date. The future price of the Common Stock remains uncertain, and if it continues to decline or remains at low levels, the company may face difficulty in issuing registered Common Stock from its Registration Statement. As a result, the company might have to issue unregistered Common Stock to fulfill redemption requests or delay the delivery of registered Common Stock until the Securities and Exchange Commission (SEC) approves a new registration statement for additional shares.
Forward-Looking Statements
The company acknowledges that the above information contains forward-looking statements, which are subject to risks and uncertainties. These statements involve predicting potential future developments and outcomes regarding the trading price and registration status of the Common Stock. While the company bases these statements on its present expectations, they are not guarantees or assurances of future results.
Investors should remain cautious and not rely solely on these forward-looking statements. The company disclaims any obligation to publicly update or revise these statements, except as required by law or regulation. It is important for investors to review the company’s most recent Annual Report on Form 10-K and other SEC filings for a comprehensive understanding of the factors that may cause actual developments or results to differ from the information provided in the forward-looking statements.
About Wheeler Real Estate Investment Trust, Inc.
Wheeler Real Estate Investment Trust, Inc. is a self-managed commercial REIT headquartered in Virginia Beach, Virginia. With a primary focus on grocery-anchored centers, the company aims to own and operate income-producing retail properties. For more information about Wheeler Real Estate Investment Trust, please visit their official website at www.whlr.us.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research before making any investment decisions.
