Summary by Moomoo AI
On July 9, 2024, Wheeler Real Estate Investment Trust, Inc. announced the effectiveness of its registration statement on Form S-11, which was filed on July 1, 2024, and declared effective by the SEC. The company, also known as Wheeler REIT, has updated its prospectus supplement to include the issuance of up to 20,704,217 shares of common stock upon future redemptions and conversions of its Series D Cumulative Convertible Preferred Stock. The issuance is expected to commence with the August 5, 2024 Holder Redemption Date for redemption requests submitted by July 25, 2024. Additionally, Wheeler REIT has updated its Redemption FAQs on its website to reflect the registration's effectiveness and to clarify the process for holders of unregistered shares of common stock issued in previous redemptions of Series D Preferred Stock to remove restrictions if they meet the conditions of Rule 144. The company cautions that investing in its common stock involves a high degree of risk and advises investors to review the risk factors detailed in the prospectus.