Form Type: 4

SEC EDGAR Link
Accession Number:0001213900-22-037407
Date:2022-06-30
Issuer: WHEELER REAL ESTATE INVESTMENT TRUST, INC. (WHLR)
Original Submission Date:

Reporting Person:

FRANKLIN MICHAEL ANDREW
2529 VIRGINIA BEACH BLVD
VIRGINIA BEACH, VA 23452

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
COMMON STOCK 2022-06-30 0 $0.00 4,356 direct
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
SERIES B CONVERTIBLE PREFERRED STOCK 40.0 2022-06-30 deemed execution date J 350 (a) common stock 218 $40.00 350 direct
7.00% SENIOR SUBORDINATED CONVERTIBLE NOTES DUE 2031 6.25 deemed execution date 0 ( ) 2021-08-19 2031-12-31 common stock 4,276 $6.25 26,725 direct
SERIES D CUMULATIVE CONVERTIBLE PREFERRED STOCK 16.96 deemed execution date 0 ( ) common stock 135 $16.96 92 direct
Footnotes
IDfootnote
f1 issuer's 7.00% senior subordinated convertible notes due 2031 (the "notes") are convertible, in whole or in part, at any time, at the option of the holders thereof, into shares of the issuer's common stock at a conversion price of $6.25 per share (the "conversion price") (4 common shares for each $25.00 of principal amount of the notes being converted); provided, however, that if at any time after september 21, 2023 holders of the issuer's series d cumulative convertible preferred stock ("series d preferred stock") have elected to cause the issuer to redeem (payable in cash or stock) at least 100,000 shares of series d preferred stock in the aggregate, then the conversion price shall be adjusted to the lower of (i) a 45% discount to the conversion price or (ii) a 45% discount to the lowest price at which any holder of series d preferred stock had its series d preferred stock redeemed into shares of the issuer's common stock.
f2 interest on the notes may be payable, at the issuer's election, in cash, in shares of the issuer's series b convertible preferred stock (the "series b preferred stock") or in shares of series d preferred stock, in each case as set forth in the notes. the series b preferred stock and series d preferred stock are both convertible into shares of the issuer's common stock at the option of the holder thereof at any time. the notes bear interest at the rate of 7% per annum. the number of shares of the issuer's common stock indicated in the table is based on the outstanding principal amount of the notes held as of august 19, 2021.
f3 the notes were delivered through the clearing system of the depository trust company and such delivery was completed on august 19, 2021.
f4 as disclosed in the issuer's form 8-k filed with the securities and exchange commission ("sec") on april 3, 2017, each share of series d preferred stock is convertible into 1.474 shares of the issuer's common stock. the series d preferred stock has no expiration date.
f5 in accordance with the terms of the indenture among the issuer and wilmington savings fund society, fsb, as trustee, governing the terms of the notes (the "indenture"), the number of shares of series d preferred stock paid as interest on the notes was determined based on a per share value equal to $7.786515, calculated as the product of (x) the average of the per share volume-weighted average prices for the series d preferred stock for the 15 consecutive trading days ending on the third business day immediately preceding the interest payment date, and (y) 0.55.
f6 as disclosed in the issuer's form 8-k filed with the sec on april 3, 2017, each share of series b preferred stock is convertible into 0.625 shares of the issuer's common stock. the series b preferred stock has no expiration date.
f7 as disclosed in the issuer's form 8-k filed with the sec on may 20, 2022, the issuer determined that interest on the notes payable on june 30, 2022, would be paid in the form of series b preferred stock. on june 30, 2022, the issuer issued shares of series b preferred stock to the reporting person as payment of interest with respect to the notes held by the reporting person, in accordance with the terms thereof and of the indenture.
f8 in accordance with the terms of the indenture, the number of shares of series b preferred stock paid as interest on the notes was determined based on a per share value equal to $2.6673845, calculated as the product of (x) the average of the per share volume-weighted average prices for the series b preferred stock for the 15 consecutive trading days ending on the third business day immediately preceding the interest payment date, and (y) 0.55.
WhaleWisdom Logo

Elevate your investments