Wheeler REIT completes 1-for-10 reverse stock split effective August 17, 2023

Wheeler Real Estate Investment Trust, Inc.

Reverse split ratio 1:10; effective 5:00 p.m. ET on Aug 17, 2023; no change to authorized shares.
Warrant exercise prices reduced proportionally; number of shares purchasable increased.
7% subordinated notes conversion rate reduced from 4 to 0.4 shares per $25 principal.
Series B preferred conversion price raised to $400/share; Series D to $169.60/share.
Par value decreased from $0.10 to $0.01 per share effective Aug 17, 2023 at 5:01 p.m.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Wheeler Real Estate Investment Trust, Inc.: Filed two Articles of Amendment for a 1-for-10 reverse stock split and par value reduction from $0.10 to $0.01 per share, effective August 17, 2023 (effective 2023-08-17).

Change: charter amendment
Effective: 2023-08-17

Exact text from the filing

In connection with the Reverse Stock Split, on August 16, 2023, the Company filed two Articles of Amendment to its charter with the State Department of Assessments and Taxation of Maryland that provide for: i. a one-for-ten Reverse Stock Split of the Common Stock, to be effective at 5:00 p.m. Eastern Standard Time on August 17, 2023 (the “ First Amendment ”); and ii. the par value of the Common Stock to be decreased from $0.10 per share (as a result of the one-for-ten Reverse Stock Split) back down to $0.01 per share, to be effective at 5:01 p.m. Eastern Time on August 17, 2023 (the “ Second Amendment ”).

View on SEC.gov

13 governance changes filed in the last 30 days. Browse all governance changes →

Wheeler Real Estate Investment Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001527541-23-000058

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.