Wheeler Real Estate Investment Trust, Inc. will implement a one-for-three reverse stock split of its common stock effective April 17, 2026, which will proportionally adjust its convertible securities and not change the number of authorized shares.
Key takeaways
A one-for-three reverse stock split will be effective at 5:00 p.m. ET on April 17, 2026, with trading on a split-adjusted basis beginning April 20, 2026.
The reverse stock split will reduce outstanding common shares from 1,813,124 to approximately 604,374, with no change to the authorized share count.
Stockholders will receive cash in lieu of fractional shares based on the closing price on April 17, 2026, and the company's trading symbol will remain unchanged.
The conversion rate for the 7.00% subordinated convertible notes due 2031 will be proportionately reduced from approximately 43.85 to 14.62 shares per $25 principal amount.
The conversion prices for Series B and Series D preferred stock will proportionally increase, and the par value of common stock will be decreased to $0.01 per share effective at 5:01 p.m. ET on April 17, 2026.