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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 4:26 PM
| This Slide: #276 of 609 |
Slide #276. Wheeler Real Estate Investment Trust, Inc. — Preferred Stock Offering
Company:
Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR)
Date announced:
11/28/2016
Shares Offered:
637,000
Date of Pricing:
12/1/2016
Price Per Share:
$24.00
Preferred Stock Offering Details:
Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR) ("Wheeler" or the "Company"), a company specializing in owning, acquiring, financing, developing, renovating, leasing and managing income-producing assets, such as community centers, neighborhood centers, strip centers and freestanding retail properties, announced today that it has commenced a follow-on public offering of Series D Cumulative Convertible Preferred Stock ("Series D Preferred Stock"), subject to market and other conditions. The Company expects to grant the underwriters a 30-day option to purchase additional shares to cover overallotments, if any. The Series D Preferred Stock trades on the Nasdaq Capital Market under the symbol "WHLRD." -updated 12/1- Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR) ("Wheeler" or the "Company"), a company specializing in owning, acquiring, financing, developing, renovating, leasing and managing income-producing assets, such as community centers, neighborhood centers, strip centers and free-standing retail properties, announced today the pricing of a public offering and sale of 637,000 shares of its 8.75% Series D Cumulative Convertible Preferred Stock, liquidation preference of $25.00 per share (the "Series D Preferred Stock"), at a public offering price of $24.00 per share, for total net proceeds of approximately $14.5 million after deducting underwriting discounts, commissions, and estimated offering expenses payable by the Company. The Company has granted the underwriters a 30-day option to purchase up to 95,550 additional shares to cover overallotments, if any. The offering is expected to close on or about December 6, 2016, subject to the satisfaction of customary closing conditions.
Wheeler Real Estate Investment Trust serves as the general partner of Wheeler REIT, L.P. (the Operating Partnership). Substantially, all of Co.'s assets are held by, and all of its operations are conducted through, its Operating Partnership. Co. is a self-managed commercial real estate investment company that owns, leases and operates retail properties with a primary focus on grocery-anchored centers. Co. owns a portfolio consisting of various properties, including retail shopping centers and undeveloped land parcels. These properties are located in Virginia, Florida, North Carolina, South Carolina, Georgia, Kentucky, Tennessee, New Jersey, Alabama, West Virginia, Oklahoma and Pennsylvania.
Preferred: WHLRP
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Avg. Broker Rec.
 
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Hold (2.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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