Business Context and Reporting Period
This Form 8-K Current Report was filed by Wheeler Real Estate Investment Trust, Inc. on June 6, 2024, covering events as of June 5, 2024. The filing addresses the ninth monthly "Holder Redemption Date" for the Company's Series D Cumulative Convertible Preferred Stock.
Key Financial Metrics and Redemption Activity
- June 2024 Redemptions: The Company received zero redemption requests for Series D Preferred Stock on the June 5, 2024 Holder Redemption Date.
- Cumulative Redemption Totals: To date, the Company has processed 182 redemption requests, totaling 948,631 shares of Series D Preferred Stock.
- Settlement Details: Approximately 2.8 million shares of Common Stock (adjusted for the May 16, 2024 one-for-24 reverse stock split) were issued to settle an aggregate redemption price of approximately $35.9 million.
- Outstanding Shares (as of June 6, 2024):
- Common Stock: 2,834,237 shares (post-split adjusted).
- Series D Preferred Stock: 2,577,240 shares.
Material Changes and Outlook
There were no material changes in redemption activity for the June 2024 period compared to the prior month, as no new requests were received. The cumulative redemption statistics remain unchanged from the May 2024 reporting.
Upcoming Events:
- Next Redemption Deadline: June 25, 2024.
- Next Holder Redemption Date: July 5, 2024.
The filing does not provide specific guidance on future financial performance, liquidity positions, or debt levels beyond the redemption mechanics. No risks or contingencies were disclosed in this specific report.
Investor Verification Checklist
- Verify the impact of the May 16, 2024 one-for-24 reverse stock split on current share counts and conversion ratios.
- Confirm the total number of Series D Preferred Stock shares remaining outstanding (2,577,240) and the potential dilution from future redemptions.
- Review the Company's website for redemption forms and FAQs regarding the July 2024 redemption cycle.
- Check subsequent filings for any redemption requests submitted by the June 25, 2024 deadline.