Wheeler REIT extends deadline to exchange series A preferreds, series B convertibles for stock

By Toni Weeks

San Luis Obispo, Calif., July 13 – Wheeler Real Estate Investment Trust, Inc. said it extended the deadline for the offer to exchange its series A preferred stock and series B convertible preferred stock for common shares.

According to a press release, the offering will now expire at 11:59 p.m. ET on July 20 instead of 11:59 p.m. ET on July 13. All other terms of the exchange offer will remain the same.

As previously reported, each share of series A preferred stock is exchangeable for 500 shares of common stock, and each share of series B preferred stock is exchangeable for 12.5 common shares. In all, the company will issue up to 20,853,250 newly issued common shares.

The company said that as of Monday, 282 series A preferreds and 836,081 series B preferreds have been tendered in the exchange offer.

The company will pay cash in lieu of any fractional common shares issued upon exchange.

Compass Point Research & Trading, LLC and Maxim Group LLC are serving as dealer managers. Computershare Trust Co., NA is the exchange agent. Georgeson, Inc. (866 391-7007 or Wheeler@Georgeson.com) is the information agent.

Virginia Beach-based Wheeler is a fully integrated, self-managed commercial real estate investment company that focuses on acquiring and managing income-producing grocery-anchored retail centers.

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