secwatch.observer — SEC 8-K summary
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Issuer:     Wheeler Real Estate Investment Trust, Inc. (WHLR)
CIK:        0001527541
Form:       8-K
Filed at:   2026-10-13T16:18:30+00:00
Accession:  0001213900-26-108884
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Wheeler REIT inks up to $25M note deal; 0% notes repaid daily in stock at $0.25 floor
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- Initial $1,000,000 promissory note sold Oct 13, 2026 to an unaffiliated investor; total issuance capped at $25,000,000 in $1M denominations.
- Notes mature in 18 months, carry 0.00% interest, and amortize 0.4% of original principal each trading day, payable in Common Stock at the prior day's close.
- Stock amortization switches to cash if price falls below the $0.25 Floor Price, shares aren't registered or Nasdaq-listed, or DWAC/DTC issues arise.
- Note Investors pay with Series D Preferred Stock valued at its $25.00 liquidation preference plus accrued dividends; closings need Nasdaq 5635(d) stockholder approval of >19.99% share issuance.
- Resale registration statement due within 60 days of stockholder approval, effective within 90 days if reviewed; company may terminate if closing misses Feb 1, 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1527541/000121390026108884/0001213900-26-108884-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1527541/000121390026108884/ea0308314-8k_wheeler.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-108884

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