Form 4: Stilwell Entities Report Beneficial Ownership in Wheeler Real Estate Investment Trust

Joseph Stilwell and affiliated entities report beneficial ownership in Wheeler Real Estate Investment Trust, including common stock, convertible notes, and preferred stock.

Summary

• Joseph Stilwell, along with several affiliated entities including Stilwell Value LLC, Stilwell Activist Investments L.P., Stilwell Activist Fund L.P., Stilwell Value Partners VII L.P., and Stilwell Associates L.P., filed a Form 4 detailing their beneficial ownership in Wheeler Real Estate Investment Trust, Inc. (WHLR).
• The report includes holdings of common stock, 7.00% Subordinated Convertible Notes due 2031, Series D Cumulative Convertible Preferred Stock, and Series B Convertible Preferred Stock.
• The filing indicates that the convertible notes are convertible into common stock at a price of $0.12 per share.
• Interest on the notes can be paid in cash, Series B Preferred Stock, or Series D Preferred Stock, all of which are convertible into common stock.
• The number of shares of common stock indicated in the report is based on the outstanding principal amount of the notes held by the reporting person.
• A purchase of notes occurred on March 7, 2024.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting changes in beneficial ownership, and does not inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for individuals and entities holding significant positions in publicly traded companies, providing transparency to the market regarding ownership changes.

Stakeholder Impact

• Shareholders are informed about the ownership stake of Joseph Stilwell and affiliated entities in Wheeler Real Estate Investment Trust.

Key Dates

Keywords

beneficial ownership, Form 4, Wheeler Real Estate Investment Trust, WHLR, Joseph Stilwell, convertible notes, preferred stock, Stilwell Value LLC, Stilwell Activist Investments L.P., Stilwell Activist Fund L.P., Stilwell Value Partners VII L.P., Stilwell Associates L.P.