Wheeler REIT adjusts convertible note conversion price to $2.00 after Series D redemptions

Wheeler Real Estate Investment Trust, Inc.

Conversion price on 7% Subordinated Convertible Notes due 2031 reduced from ~$2.82 to ~$2.00 per share.
On Aug 5, 2025, processed 13 redemptions of 35,981 Series D shares at ~$41.43/share, issuing 410,202 common shares.
10-day VWAP before Aug 5 was ~$3.63; Series D shares outstanding 1,785,051 as of Aug 5, 2025.
Registration statement for up to 100M common shares effective June 20, 2025; September redemptions will use registered shares.
Cumulative: 371 redemptions, 1,688,474 Series D shares redeemed, ~712,000 common shares issued to date.

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