Kent Engelke

Larry Raiman

- Wheeler Real Estate Investment Trust, Inc. will implement a **one-for-five reverse stock split** of its common stock, effective at **5:00 p.m. Eastern Time on September 22, 2025**.  **[1527541_0001527541-25-000237_whlrarticlesofamendment-re.htm:0]** **[1527541_0001527541-25-000237_whlr-20250916.htm:2]** 
- As a result of the split, the number of common shares outstanding is anticipated to decrease from **4,734,970** to approximately **946,994** post-split, with split-adjusted trading beginning on **September 23, 2025**, under a **new CUSIP number (963025796)**.  **[1527541_0001527541-25-000237_whlr-20250916.htm:2]** 
- The reverse stock split will lead to adjustments in the conversion rates for the company's **7.00% Subordinated Convertible Notes due 2031** and its **Series B and Series D Convertible Preferred Stock**.  **[1527541_0001527541-25-000237_whlr-20250916.htm:2]** **[1527541_0001527541-25-000237_whlr-20250916.htm:3]** 
- On September 16, 2025, the company issued **253,000 shares of common stock** in exchange for **11,000 shares of Series D Cumulative Convertible Preferred Stock** and **22,000 shares of Series B Convertible Preferred Stock**, which were subsequently retired and cancelled.  **[1527541_0001527541-25-000237_whlr-20250916.htm:1]**

Wheeler Real Estate Investment Trust, Inc. Announces One-for-Five Reverse Stock Split and Equity Exchange

- On **September 9, 2025**, Wheeler Real Estate Investment Trust, Inc. agreed to issue **365,000 shares of common stock** in exchange for **14,600 shares of Series D Cumulative Convertible Preferred Stock** and **29,200 shares of Series B Convertible Preferred Stock**.  **[1527541_0001527541-25-000230_whlr-20250909.htm:1]** 
- On **September 11, 2025**, the company agreed to issue an additional **1,008,000 shares of common stock** for **42,000 shares of Series D Preferred Stock** and **84,000 shares of Series B Preferred Stock**.  **[1527541_0001527541-25-000230_whlr-20250909.htm:1]** 
- These transactions, which settled between **September 9 and 12, 2025**, resulted in the issuance of a total of **1,373,000 shares of common stock**.  **[1527541_0001527541-25-000230_whlr-20250909.htm:1]** 
- The company **did not receive any cash proceeds** from these exchanges, and the preferred stock received was **retired and cancelled**.  **[1527541_0001527541-25-000230_whlr-20250909.htm:1]**

Wheeler Real Estate Investment Trust (WHLR)