Wheeler REIT lowers note conversion price to about $0.59 after Series D conversions
Wheeler Real Estate Investment Trust reported its November 2026 Series D Preferred Stock redemptions, which were settled with common stock at about $1.07 per share. Under the indenture for its 7.00% Subordinated Convertible Notes due 2031, the notes' conversion price was adjusted to about $0.59 per share, a 45% discount to $1.07, which means more common shares are needed to convert each $25.00 of note principal. Existing shareholders should weigh the new common share issuances and the lower note conversion price against the company's outstanding share count.
Key points
- On November 5, 2026, three requests redeemed 1,903 Series D shares at about $41.80 per share, settled with 74,374 common shares.
- Note conversion price adjusted to about $0.59 per share, or about 42.50 shares per $25.00 of principal, a 45% discount to $1.07.
- Cumulative to date: 453 redemption requests, 1,834,581 Series D shares redeemed, and about 91,000 common shares issued.
- As of November 5, 2026: 1,862,906 common shares and 1,723,288 Series D shares outstanding; next redemption deadline is November 25, 2026, and next Holder Redemption Date is December 7, 2026.
The filing
Written by AI on Nov 9, 2026, 7:05 AM ET, from this filing only.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.