Wheeler could raise $23.8 million in initial public offering of stock

Company may sell up to 3.4 million shares at $5.00 to $7.00 per share

By Devika Patel

Knoxville, Tenn., Oct. 12 - Wheeler Real Estate Investment Trust, Inc. will price a $12.5 million to $23.8 million initial public offering of common stock, according to a Form S-11 filed Wednesday with the Securities and Exchange Commission. The company expects its shares will trade on the Nasdaq.

The company will sell between 2.5 million and 3.4 million shares at a price slated to be between $5.00 and $7.00 per share.

Anderson & Strudwick, Inc. is the agent.

Proceeds will be used for debt repayment and general working capital.

The company is a Virginia Beach, Va., real estate investment trust.

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