Wheeler Real Estate Investment Trust, Inc. (WHLR) Form 424B3 — Oct 13, 2026
Wheeler Real Estate Investment Trust (WHLR) entered a Note Purchase Agreement on October 13, 2026 to issue up to $25,000,000 of promissory notes, starting with a $1,000,000 note to an unaffiliated investor. The notes carry 0% interest, mature in 18 months, and are repaid through daily amortization payments of 0.4% of principal made in newly issued common stock at the prior day's closing price. Investors pay for the notes by surrendering shares of the company's Series D Cumulative Convertible Preferred Stock at its $25.00 liquidation preference rather than cash.
Key figures
- Debt Amount
- up to $25,000,000 aggregate principal (initial note $1,000,000)
- Interest Rate
- 0
- Maturity Date
- 18 months from issuance date
- Floor price
- $0.25 per share
- Amortization rate
- 0.4% of original principal per trading day (adjustable 0.2%-0.6%)
- Prospectus supplement number
- 70
- Registration filing deadline
- 60 days following Stockholder Approval
- Stockholder approval threshold
- issuance of more than 19.99% of outstanding common stock (Nasdaq Rule 5635(d))
- Series d liquidation preference
- $25.00 per share
AI analysis
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