Wheeler REIT adjusts conversion price on 2031 notes to $1.97 after Series D redemptions

Wheeler Real Estate Investment Trust, Inc.

Conversion price lowered from ~$4.56 to ~$1.97 per common share, a 45% discount to $3.58.
13 Series D Preferred Stock redemptions processed in April: 38,990 shares redeemed at ~$40.75/share.
Aggregate redemption price settled with 443,715 common shares; VWAP was ~$3.58.
Cumulatively, 1,616,833 Series D shares redeemed for 811,800 common shares; 1,936,274 Series D shares outstanding.
Next redemption deadline: April 25, 2025; next Holder Redemption Date: May 5, 2025.

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