Wheeler subsidiary Cedar OP enters $10M KeyBank loan for preferred stock tender offer

Wheeler Real Estate Investment Trust, Inc.

Cedar OP secured $10M senior unsecured term loan from KeyBank; guaranteed by Wheeler and Cedar REIT.
Proceeds plus available cash to fund tender of up to 563,380 shares of Cedar's 7.25% Series B Preferred.
Loan has 9-month term with optional 3-month extension; repayment from operations and asset sales.
Wheeler's cash collateral account must equal outstanding loan balance; restricted until repaid.
Tender offer for preferred shares scheduled to close April 4, 2025.

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