Wheeler REIT announces expiration, final results of exchange offer

Wheeler Real Estate Investment Trust announced the expiration and final results of its exchange offer and related solicitation of consents from the holders of the Company’s Series D Cumulative Convertible Preferred Stock to certain amendments to the Company’s charter that would modify the terms of the Series D Preferred Stock. The Exchange Offer expired at 11:59 p.m., New York City time, on January 20, 2023. The Company has been informed by the Exchange Agent, Computershare Inc., that as of the Expiration Date and Time, 864,391 shares of Series D Preferred Stock had been validly tendered in the Exchange Offer. Accordingly, the condition that the holders of at least 66 2/3% of the outstanding shares of Series D Preferred Stock validly tender their Series D Preferred Stock into the Exchange Offer, and not validly withdraw such Series D Preferred Stock, and consent to the Proposed Amendments, has not been satisfied as of the Expiration Date and Time. Therefore, the Series D Preferred Stock will remain outstanding with no change to its terms. No shares of Series D Preferred Stock will be exchanged by the Company for its 6.00% Subordinated Convertible Notes due 2028andcommon stock, and the shares of Series D Preferred Stock previously tendered in the Exchange Offer will be promptly returned to the tendering holders. No consideration will be paid or become payable to holders who validly tendered their shares of Series D Preferred Stock in the Exchange Offer.