Wheeler unit Cedar Realty announces tender offer for series C preferred stock
seekingalpha
25 Sep 2024
Wheeler Real Estate Investment Trust (NASDAQ:WHLR) said its unit Cedar Realty Trust (CDR.PR.C) (CDR.PR.B) plans to commence a tender offer to purchase up to $9M shares of its outstanding 6.50% series C cumulative redeemable preferred stock.
The retail REIT had acquired all of Cedar's outstanding common stock in August 2022.
The purchases will be made at a price per series C share of not less than $13.25 and not greater than $15.50.
The "modified Dutch auction" tender offer is expected to commence on Sept. 25 and expire at 5:00 PM New York City time, on Thursday, Oct. 24.
The retail REIT intends to pay for the shares repurchased with available cash.
Source: Press Release
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