Wheeler Real Estate adjusts convertible note conversion price to $0.98 per share after preferred redemptions

Wheeler Real Estate Investment Trust, Inc.

Conversion price of 7.00% Subordinated Convertible Notes due 2031 reduced from ~$2.00 to ~$0.98 per share, a 45% discount to the $1.78 reference price.
On September 5, 2025, the company processed 8 Series D Preferred redemption requests totaling 11,551 shares, issuing 270,184 common shares as settlement.
Cumulatively, 379 redemption requests have redeemed 1,700,025 Series D shares, with ~982,000 common shares issued in settlement.
As of September 5, 2025, outstanding common shares were 3,108,970 and Series D Preferred shares were 1,715,500.
The next monthly redemption deadline is September 25, 2025, with the Holder Redemption Date on October 6, 2025.

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