VIRGINIA BEACH, VA—Wheeler REIT has priced andsold 720,000 shares of its Series B convertible preferred stock andwarrants in order to purchase 864,000 shares of its commonshares.
The offering consisted of 144,000 units priced at $125 per unit,for $18 million. Investors will be able topurchase one share of the common stock at an exercise price of$5.50 per share.
The preferred stock will have an interest rate of 9% per yearand a conversion price of $5.00 per share of common stock.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
