Wheeler REIT to conduct $50 million convertible at-the-market offering

Deal sells series B convertible preferreds through agent JonesTrading

By Devika Patel

Knoxville, Tenn., July 22 – Wheeler Real Estate Investment Trust, Inc. arranged a $50 million 9% series B convertible preferred stock at-the-market equity distribution agreement with agent JonesTrading Institutional Services LLC on July 21, according to an 8-K filed Friday with the Securities and Exchange Commission.

The agent will receive a 3% commission.

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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