Wheeler REIT Enters Stock-Amortized Note Agreements for Up to $25M
Wheeler Real Estate Investment Trust entered agreements for 0% promissory notes, starting with a $1 million note and allowing additional notes for total proceeds up to $25 million. Amortization is made in common stock valued at the prior close, with a cash default.
Wheeler Real Estate Investment Trust agreed to issue 0% promissory notes, starting with a $1 million note. The agreements allow for additional notes, bringing total proceeds to as much as $25 million. The notes amortize each trading day through common stock valued at the previous close; payment defaults to cash.