WHEELER REAL EST.I.PFD D

Wheeler Real Estate Investment Trust reports multiple unregistered exchanges of convertible Series B and D preferred shares into common stock, according to an SEC filing. The transactions involved issuing several hundred thousand common shares to independent investors at varying exchange ratios; no cash proceeds were received and the exchanged preferred shares were canceled. The stock trades at about $0.37 near its 52-week low and has lost almost 100% of its value year-to-date, although the company remains profitable despite a small market capitalization. Additionally, Wheeler named Jason F. Simone as CFO, adjusted conversion terms for notes, completed a monthly preferred redemption, engaged CBRE to market 35 properties, and plans a 1-for-4 reverse stock split. » Altro su de.investing.com

Wheeler Real Estate Investment Trust has adjusted the conversion price of its subordinated convertible 7.00% convertible notes (maturing 2031) to about $1.03 per common share. The company processed eight repurchase requests and bought back 13,745 Series D preferred shares at approximately $40.99 per share; to date 1,796,028 Series D shares have been redeemed and roughly 502,000 common shares issued for settlement. As of May 5, Wheeler reported 1,042,613 outstanding common shares and 1,762,819 outstanding Series D preferred shares, plans a 1:3 stock split and reported changes in its financial leadership. » Altro su de.investing.com