Wheeler Will Likely Issue Unregistered Common Stock To Settle December Redemption Requests
Portfolio Pulse from Benzinga Newsdesk
Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR) anticipates issuing unregistered common stock to fulfill Series D Preferred Stock redemption requests due to insufficient registered shares. The decline in WHLR's stock price and high volume of redemptions are cited as reasons. The company intends to register the unregistered shares later.
November 27, 2023 | 1:23 pm
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Wheeler REIT will issue unregistered common stock for December redemption requests, planning to register these shares at a later date.
The issuance of unregistered common stock indicates a potential dilution of equity for current shareholders, which could negatively impact the stock price in the short term. The company's inability to settle redemptions with registered shares reflects negatively on its financial flexibility and could decrease investor confidence.
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