Summary by Moomoo AI
Wheeler Real Estate Investment Trust announced on October 8, 2024, that it has agreed to issue 88,000 shares of common stock in exchange for 44,000 shares of preferred stock from an unaffiliated investor. The exchange involved 22,000 shares each of Series D Cumulative Convertible Preferred Stock and Series B Convertible Preferred Stock.The transaction was completed on the same day with no cash proceeds received by the company. The exchanged preferred shares have been retired and cancelled. The common stock issuance was conducted under Section 3(a)(9) of the Securities Act exemption, with no commission or remuneration paid for soliciting the transaction.
