Wheeler Real Estate Investment Trust, Inc. Announces Final Tender Results of Exchange Offer for Series A Preferred Stock & Se...
July 21 2015 - 4:15PM
Business Wire
Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR)
(“Wheeler” or the “Company”) today announced the results of its
offer to exchange all outstanding shares of the Company’s Series A
Preferred Stock, without par value per share, $1,000 liquidation
preference per share (“Series A Preferred Stock”) and Series B
Convertible Preferred Stock, without par value per share, $25
liquidation preference per share (“Series B Preferred Stock”) for
shares of the Company’s common stock, $0.01 par value per share
(“Exchange Offer”). Each share of Series A Preferred Stock was
exchangeable for 500 shares of the Company’s common stock, and each
share of the Series B Preferred Stock was exchangeable for 12.5
shares of the Company’s common stock. The Exchange Offer expired at
11:59 p.m., ET on July 20, 2015 and as of its expiration, 1,247
shares of Wheeler’s Series A Preferred Stock, and 865,481 shares of
the Company’s Series B Preferred Stock were tendered for exchange.
In total, approximately 69% of the Series A Preferred Stock and 54%
of the Series B Preferred Stock were tendered for exchange. The
transaction will result in the issuance of 11,442,002 million new
shares of Wheeler’s common stock and the Company will pay $24.99
for cash in lieu of fractional shares associated with the tender of
the Series B Preferred Stock.
Compass Point Research & Trading, LLC and Maxim Group LLC
served as the dealer managers for the Exchange Offer.
This communication does not constitute an offer to buy, a
solicitation of an offer to sell or a solicitation for an offer to
tender, any securities of Wheeler. In connection with the Exchange
Offer, Wheeler has filed with the Securities and Exchange
Commission (the “SEC”) a registration statement on Form S-4, as
amended, a final prospectus and a Schedule TO, as amended
(collectively the “Offering Documents”). Investors and security
holders are urged to read the Offering Documents, because they
contain important information about Wheeler and the Exchange Offer.
The Offering Documents relating to the Exchange Offer can be
obtained from the SEC’s website at www.sec.gov.
About Wheeler Real Estate Investment
Trust Inc.
Headquartered in Virginia Beach, VA, Wheeler Real Estate
Investment Trust, Inc. is a fully-integrated, self-managed
commercial real estate investment company focused on acquiring and
managing income-producing retail properties with a primary focus on
grocery-anchored centers. Wheeler’s portfolio contains
well-located, potentially dominant retail properties in secondary
and tertiary markets that generate attractive risk-adjusted
returns, with a particular emphasis on grocery-anchored retail
centers.
Additional information about Wheeler Real Estate Investment
Trust, Inc. can be found at the Company’s corporate website:
www.whlr.us.
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version on businesswire.com: http://www.businesswire.com/news/home/20150721006591/en/
Wheeler Real Estate Investment Trust,
Inc.Robin Hanisch, 757-627-9088Corporate
Secretaryrobin@whlr.usorLaura Nguyen, 757-627-9088Director of
Capital Marketslnguyen@whlr.usorInvestor Relations:The Equity Group Inc.Terry Downs,
212-836-9615Associatetdowns@equityny.comorAdam Prior,
212-836-9606Senior Vice-Presidentaprior@equityny.com
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