Wheeler Real Estate Investment Trust issued 146,666 shares of Series D Preferred Stock to unaffiliated investors in exchange for Cedar Realty Trust preferred stock on March 16 and April 1, 2026, under Section 4(a)(2) exemption.
Key takeaways
Issued 80,000 Series D Preferred shares on March 16, 2026 for 120,000 shares of Cedar Series C Preferred Stock.
Issued 66,666 Series D Preferred shares on April 1, 2026 for 90,000 Cedar Series C and 10,000 Cedar Series B Preferred shares.
Acquired Cedar preferred shares from unaffiliated Series D Investor and contributed them to Cedar for retirement.
Transaction relied on Section 4(a)(2) exemption as non-public offering.
No cash consideration; exchange strengthens subsidiary capitalization via preferred stock retirement.