Tender Offer - Wheeler Real Estate Investment Trust, Inc.

Form Type: 8-K

Filing Date: 2025-03-24

Corporate Action: Tender-offer

Type: New

Accession Number: 000152754125000068

Filing Summary: On March 24, 2025, Wheeler Real Estate Investment Trust, Inc. reported that Cedar Realty Trust Partnership, L.P. entered into a binding commitment letter with KeyBank National Association for a $10 million senior unsecured term loan, referred to as the Cedar Loan. Both Cedar and Wheeler Real Estate Investment Trust are providing guarantees for this loan. The proceeds from the Cedar Loan, combined with available cash, will fund a tender offer to purchase up to 563,380 shares of Cedar's 7.25% Series B Cumulative Redeemable Preferred Stock, scheduled to close on April 4, 2025. The Cedar Loan has a term of nine months, with the possibility to extend it for three additional months, contingent on meeting certain conditions and the payment of an extension fee. The Company's guarantee will be secured by cash in a money market interest-bearing guaranty collateral account at KeyBank, which will be restricted until the loan is repaid. Cedar OP intends to repay the Cedar Loan from operations and proceeds from asset sales. The document also includes forward-looking statements about the Cedar Loan, emphasizing that these statements are not guarantees of future performance and may be subject to various risks and uncertainties.

Document Link: View Document