WHLR adjusts convertible note conversion price to $1.03 after May Series D redemptions

Wheeler Real Estate Investment Trust, Inc.

Conversion price for 7% Subordinated Notes due 2031 (WHLRL) lowered to ~$1.03, a 45% discount to the $1.87 VWAP.
May 2026: 13,745 Series D Preferred (WHLRD) shares redeemed at ~$40.99 each, settled with 301,743 common shares.
Cumulative to date: 1,796,028 Series D shares redeemed for ~502,000 common shares issued.
As of May 5, 2026, WHLR had 1,042,613 common and 1,762,819 Series D Preferred shares outstanding.
Next redemption deadline: May 25, 2026; next Holder Redemption Date: June 5, 2026.

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