Wheeler Real Estate Investment Trust Inc | Series B Preferred Stock (WHLRP)
Prospectus excerpt: We are offering of 720,000 shares of our Series B Preferred Stock, without par value per share (˘Series B Preferred Stock÷), and warrants (˘Warrants÷) to purchase 864,000 shares of our common stock, $0.01 par value per share, in this offering. This prospectus also covers the shares of common stock that are issuable from time to time upon exercise of the Warrants and the conversion of the Series B Preferred Stock. The Series B Preferred Stock and the Warrants will be sold in units (˘Units÷) with each Unit consisting of (i) five shares of Series B Preferred Stock with an initial stated value of $25.00 per share, and (ii) six Warrants each to purchase one share of common stock, exercisable by the holder at an exercise price of $5.50. The Warrants expire five years from the date of issuance. Units will not be issued or certificated. The shares of Series B Preferred Stock and the Warrants are immediately detachable and will be issued separately. The Series B Preferred Stock will rank on parity with the outstanding shares of our Series A Preferred Stock and senior to our common stock with respect to payment of dividends and distribution of amounts upon liquidation, dissolution or winding up. Holders of our Series B Preferred Stock will have no voting rights, except as required by law.
About Wheeler Real Estate Investment Trust Inc (WHLR)
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.'s properties are located in Virginia, Florida, North Carolina, South Carolina, Georgia, Kentucky, Tennessee, New Jersey, Alabama, West Virginia, Oklahoma and Pennsylvania.