Wheeler REIT cuts conversion price to $0.67; warns of share shortage for June redemptions

Wheeler Real Estate Investment Trust, Inc.

Conversion price of 7% subordinated notes due 2031 adjusted to $0.67 per common share (from $1.97) due to Series D redemptions.
May 2025: 23,070 Series D shares redeemed; Company issued 774,572 common shares at VWAP $1.22.
Cumulative: 1,639,903 Series D shares redeemed for ~1.59M common shares; 3.85M common and 1.79M Series D outstanding.
Company may lack registered common shares for June 5 redemptions; plans to file new registration statement but no assurance of effectiveness.

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