Wheeler REIT adjusts note conversion price to $2.82; warns of insufficient registered shares for July redemptions

Wheeler Real Estate Investment Trust, Inc.

Conversion price for 7% Subordinated Convertible Notes due 2031 adjusted from ~$4.71 to ~$2.82 per share (40% reduction).
June 2025: Processed 2 redemptions of 1,100 Series D preferred shares, issuing 8,871 common shares at ~$5.13 VWAP.
Cumulative to date: 1,641,003 Series D shares redeemed, issuing ~235,500 common shares.
Company warns it may not have enough registered shares for July redemptions; plans to file new registration statement.
As of June 5, 2025: 558,209 common shares and 1,789,404 Series D preferred shares outstanding.

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