On December 12, 2025, Wheeler Real Estate Investment Trust, Inc. issued 96,000 shares of common stock in exchange for 6,000 shares of Series D Preferred Stock and 12,000 shares of Series B Preferred Stock, with no cash proceeds received. A further 16,000 shares of common stock were issued on December 17, 2025, for 1,000 shares of Series D and 2,000 shares of Series B Preferred Stock.