Wheeler Real Estate Investment Trust Announces One-for-Nine Reverse Stock Split

What Happened Wheeler Real Estate Investment Trust, Inc. (WHLR) filed an 8‑K on Sept. 17, 2026 announcing two charter amendments to implement a one-for-nine reverse stock split of its common stock effective at 5:00 p.m. ET on Sept. 21, 2026 and a related decrease in the common stock par value to $0.01 effective at 5:01 p.m. ET on Sept. 21, 2026. The company said no fractional shares will be issued; holders entitled to fractional shares will receive a cash payment calculated using the closing price on The Nasdaq Capital Market on Sept. 21, 2026 (adjusted for the split), with no interest. The Common Stock will trade on a split-adjusted basis at market open on Sept. 22, 2026 under a new CUSIP (963025721); the trading symbol will remain unchanged.

Key Details

• Outstanding shares: 5,113,901 shares pre-split; approximately 568,211 shares expected post-split.
• Fractional shares: paid in cash (fraction × Nasdaq closing price on Sept. 21, 2026, adjusted for the split), no interest.
• Convertible securities: conversion rate for the 7.00% subordinated convertible notes due 2031 will change from ~46.43 to ~5.16 shares per $25 principal; Series B and Series D preferred conversion prices increase proportionally (resulting in extremely small fractional common share equivalents).
• No change to the number of authorized common shares; relative ownership percentages remain effectively the same except for de minimis changes from cash-in-lieu payments.

Why It Matters For investors, the reverse split reduces the number of outstanding shares and will likely increase the per‑share trading price (on a mathematical basis) while leaving each holder’s proportionate ownership nearly unchanged. Holders of convertible securities will see their conversion rates adjusted proportionally, which can affect the number of common shares they would receive on conversion. Fractional-share holders should expect cash payments instead of fractional shares. The CUSIP change may be relevant for trade/settlement; the company’s ticker symbol will not change. The filing also includes standard forward‑looking statement language about the split’s impact.