WHLR Stock Recent News
WHLR LATEST HEADLINES
Wheeler REIT is facing a potential dilution crisis as the deadline for Series D preferred shares to be converted into cash or common shares approaches on September 21, 2023. The company intends significant additional amounts of common stock be issued, which could cause significant selling pressure across Wheeler share classes. The situation could lead to a massive dilution with little benefit for any stakeholders, obscuring otherwise good operating results at the Wheeler entity level.
Armada Hoffler Series A Preferred Stock: 7.7% Yield And 14% Upside To Par.
The first tender offer for Wheeler Preferred D shares was unsuccessful, as expected, but now the terms have changed. Given the revised incentives around the tender offer, I believe it is more likely that holdouts will break ranks and tender their shares.
Wheeler has announced a tender offer for all outstanding preferred D shares. Based on the terms and market reaction, the deal seems unlikely to be accepted without being sweetened.
Take A Shower After Reading The Wheeler/Cedar Merger