Wheeler Real Estate Investment Trust, Inc. (WHLR): Nasdaq/NYSE listing notice — Wheeler REIT receives Nasdaq bid price deficiency notice; faces delisting risk

Wheeler Real Estate Investment Trust, Inc.

Received Nasdaq letter on Jun 26, 2023 for non-compliance with $1.00 minimum bid price rule.
Has 180 days (until Dec 26, 2023) to close at $1.00+ for 10 consecutive business days.
If not cured, may qualify for second 180-day compliance period under conditions.
Company evaluating options including a reverse stock split to regain compliance.
Common stock continues trading on Nasdaq under WHLR; delisting would materially impact the company.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Wheeler Real Estate Investment Trust, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

June 26, 2023, Wheeler Real Estate Investment Trust, Inc. (the “ Company ”) received a letter (the “ Notice ”) from the listing qualifications staff (the “ Staff ”) of The Nasdaq Stock Market LLC (“ Nasdaq ”) notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the “ Bid Price Rule ”) for continued listing. The Bid Price Rule requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) (the “ Compliance Period Rule ”) provides that a failure to meet the mini

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Wheeler Real Estate Investment Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-052464

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