Wheeler Real Estate Investment Trust, Inc. Announces Launch of Series D Preferred Stock Follow-On Offering
January 09 2018 - 8:20AM
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.”
The Company intends to use the net proceeds from
this offering to fund a portion of the acquisition price for a
retail shopping center located in Norfolk, Virginia known as
JANAF.
Ladenburg Thalmann & Co. Inc. and BTIG, LLC
are serving as joint-book-running managers for the offering.
The offering is being made pursuant to the
Company’s shelf registration statement on Form S-3 (Registration
No. 333-213294), which was declared effective by the U.S.
Securities and Exchange Commission (“SEC”) on September 6, 2016. A
preliminary prospectus supplement related to the offering has been
filed with the SEC and is available on the SEC's website located at
http://www.sec.gov. Copies of the preliminary prospectus supplement
and the accompanying prospectus may also be obtained from:
Ladenburg Thalmann & Co. Inc., Attention: Equity Syndicate, 570
Lexington Avenue, 12th Floor, New York, NY 10022 or by email:
syndicate@ladenburg.com or BTIG, LLC, Attention: Equity Capital
Markets, 825 3rd Avenue, 6th Floor, New York, NY 10022 or by email:
equitycapitalmarkets@btig.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction.
About Wheeler Real Estate Investment
Trust, Inc. Headquartered in Virginia Beach, VA, Wheeler
Real Estate Investment Trust, Inc. specializes 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.
Wheeler’s portfolio contains strategically selected properties,
primarily leased by nationally and regionally recognized retailers
of consumer goods and located in the Northeast, Mid-Atlantic,
Southeast and Southwest regions of the United States.
Forward-looking StatementsThis
press release contains “forward-looking” statements as defined in
the Private Securities Litigation Reform Act of 1995. When the
Company uses words such as “may,” “will,” “intend,” “should,”
“believe,” “expect,” “anticipate,” “project,” “estimate” or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. Forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company’s expectations discussed in the
forward-looking statements. The Company’s expected results may not
be achieved, and actual results may differ materially from
expectations. Specifically, the Company’s statements regarding the
completion of the proposed follow-on public offering of Series D
Preferred Stock on the terms described, or at all, and the
Company's proposed use of net proceeds are forward-looking
statements. These statements are not guarantees of future
performance and are subject to risks, uncertainties and other
factors, some of which are beyond our control, are difficult to
predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements.
For these reasons, among others, investors are cautioned not to
place undue reliance upon any forward-looking statements in this
press release. Additional factors that could cause actual results
to differ materially from those expressed or forecasted in the
forward-looking statements are discussed in the Company's filings
with the SEC, which are available for review at www.sec.gov. The
Company undertakes no obligation to publicly revise these
forward‐looking statements to reflect events or circumstances that
arise after the date hereof.
CONTACT:Wheeler Real Estate Investment
Trust, Inc. Wilkes GrahamChief Financial
Officer (757)
627-9088 wilkes@whlr.us
Laura Nguyen Director of Investor
Relations (757)
627-9088 laura@whlr.us
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