Wheeler Real Estate Investment Trust Inc. has announced adjustments to the conversion price of its 7.00% Subordinated Convertible Notes due 2031. As part of the June 2025 Series D Preferred Stock redemptions, the conversion price for these notes has been revised to approximately $2.82 per share of common stock, a notable 45% discount from the previous conversion price. This adjustment follows the June redemption activity, where 1,100 shares of Series D Preferred Stock were redeemed for an approximate price of $41.34 per share. The company settled this redemption by issuing 8,871 shares of common stock. To date, Wheeler has processed 351 redemption requests, collectively redeeming over 1.6 million shares of Series D Preferred Stock and issuing about 235,500 shares of common stock. As of June 5, 2025, Wheeler reports having 558,209 shares of common stock and 1,789,404 shares of Series D Preferred Stock outstanding.