Summary by Moomoo AI
On December 6, 2024, Wheeler Real Estate Investment Trust announced an adjustment to the conversion price of its 7.00% Subordinated Convertible Notes due 2031. The conversion price was reduced to approximately $4.22 per share, reflecting a 45% discount from the lowest conversion price of $7.67 for Series D Preferred Stock.During the December 5, 2024, Holder Redemption Date, Wheeler processed 24 redemption requests, redeeming 127,554 shares of Series D Preferred Stock at approximately $40.01 per share. The company issued 665,298 shares of Common Stock to settle these redemptions.Cumulatively, Wheeler has redeemed 1,383,892 shares of Series D Preferred Stock, issuing approximately 1,250,000 shares of Common Stock. The next redemption deadline is December 25, 2024, with the Holder Redemption Date on January 6, 2025.