Wheeler Real Estate shares rise 10.44% after-hours after adjusting conversion price following March redemptions.

Wheeler Real Estate Investment Trust surged 10.44% in after-hours trading following the announcement that it adjusted the conversion price of its 7.00% subordinated convertible notes to $1.04 per share, a 45% discount to the $1.88 minimum price from March redemptions. The adjustment, made under optional terms in the indenture, aligns with the company’s strategy to manage its capital structure post-redemption. The move likely signaled improved flexibility for note holders, potentially enhancing conversion appeal and investor confidence in the stock’s near-term valuation.